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Kenya Ups Its Gambling Tax Rate as On Line Betting Booms Across Africa

Kenya Ups Its Gambling Tax Rate as On Line Betting Booms Across Africa

So as to corral the growth of a market that has in recent years taken a nation by storm, Kenya has imposed a tax that is major on betting companies.

Kenyan President Uhuru Kenyatta approved an increase that is huge gambling fees this week, hoping to slow the development of just what politicians believe is definitely an undertaxed online gambling boom.

On President Uhuru Kenyatta signed a finance bill into law that will levy a 35 percent tax rate on all gambling revenue for bookmakers, casinos, lotteries, and any other business involved in wagers wednesday. (That’s in addition to a 30 percent corporate income tax that all businesses spend in Kenya.)

The tax that is potentially prohibitive will affect all kinds of gambling, including online gambling, which accounts for most of the gambling presently occurring in Kenya. Previously Kenya taxed bookmakers at 7.5 percent, casino gambling at 12 percent, raffles and competitions at 15 %, and lotteries at 5 percent.

Supporters of the income tax and members of President Uhuru’s Jubilee party stated it was time for you to contain the growth of gambling that is being facilitated by technology but otherwise is certainly going unchecked.

‘ We had been very concerned about wagering among school-goers it difficult for people to bet,’ President Uhuru said during an online town hall in April so we made. ‘ We want those who bet to have their cash go to projects that are