Kenya discusses new betting tax

Kenya discusses new betting tax

The new Kenya betting tax may be set at 10% instead of 30%.

Gamblers may not be discouraged from playing after all as Kenya approved a new betting tax in the 2019-20 financial budget.

Kenya.- The gambling industry is a major source of money for state coffers, but the government’s greed may be excessive. Kenya’s new betting tax may discourage gamblers as the 2019/20 financial budget is discussed. However, despite a 30% rate being on the table, a lower fee may actually be enforced.

Treasury Cabinet Secretary Henry Rotich introduced excise duty on betting activities at 10% at the amount bet.

“Betting has become quite spread and its expansion has had negative social effect particularly to the youth and vulnerable members of our society, and in order to curtail the negative effect arising from betting activities, I propose to introduce excise duty on betting activities at 10% at the amount staked,” Rotich announced.

However, some Members of the Parliament disagreed with the proposed betting tax. “I am disappointed with the taxation. Betting has negative social effects on young people. As National Assembly, we suggested taxation should be 30%, but today I was surprised the minister only increased by 10%; that will not cure the menace,” Ndhiwa MP Martin Peters Owino said.

“Gambling has destroyed our society and we cannot continue raising our children through guesswork. I am so unhappy with the position of the minister where he has taxed only 10%… he should have taxed more as he did with beer and cigarettes.”

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