Kenya

MPs give thumbs up to 35% gambling tax

The new tax rate applies to all sports betting, gaming, lottery and competition operators in the country.

Kenya 
| 16/06/2017

The new 35% tax on gambing companies has been okayed in a move that represents a considerable increase on the current rate of 7.5%.

Earlier this week, legislators had chosen not to back a 50% gambling tax proposed by Kenyan President Uhuru Kenyatta, which in turn led to a delay in the country’s Finance Bill 2017.

As a result of the lack of support for his proposed 50% rate, Kenyatta refused to sign the Finance Bill. According to him, the purpose of Amendment of Section 59 B of Cap 469 was to "discourage Kenyans, and especially the youth, in directing their focus on betting, lottery and gaming activities instead of productive economic engagement, a vice that is likely to degenerate into a social disaster.”

Despite the back and forth, Kenyatta and Mps finally came to terms and agreed a new tax rate of 35%, which applies to all sports betting, gaming, lottery and competition operators in the country.

Yogonet.com

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