META Platforms To Share Information And Trade Data With KRA

Meta Platforms Inc., the company that owns Facebook, WhatsApp and Instagram, has amended its terms allowing the tech giant to give out information with tax and investigative authorities as from January, handing the taxman a new tool to net businesses using its platforms to make money.

In its updated terms to be effective from January 3, 2023, the technology firm says entrepreneurs using the platform to advertise or sell their products will automatically offer their consent for sharing of dealings of the business persons to a governmental entity or body if it believes that disclosure would assist in a lawful investigation.

The dealings include the advertising contents and all information associated with the publicity placed on its platform.

This will be a major boost to the Kenya Revenue Authority (KRA).