Kenya would tax gaming prizes

gaming kenya tax

The measure was recommended by the president. Credits: Pulselive.co.ke

The Parliament would include a 15% tax on betting and lotteries prizes.

Kenya.- As the Kenyan Parliament is evaluating a taxing legislation for the gaming industry, the President Uhuru Kenyatta sent his recommendations to the senators demanding a 15% tax on betting and lotteries prizes. Meanwhile, Kenya’s Finance and National Planning Committee also recommended a reduction of general gaming taxation to 15%.

Earlier this month, the national parliament rejected the gaming bill proposing a reduction on current taxing rates from 35% to 15%. National authorities of Kenya approved back in 2017 an increase of gaming taxes from 7.5% to 35% and now they could add the 15% to lotteries and betting services’ prizes.

“We have not renewed some of the contracts we had but we decided to choose some of the few we had because the taxation has changed so we need to support the ones we think we can sustain as long as the tax remains as it is,” SportPesa Chief Executive Officer Ronald Karauri announced.

The sector is fighting to survive in a hostile environment provided by Kenyan authorities, and casino executives are trying to overturn their position: “Most of them (casinos) are saying we would rather just close,” Association of Gaming Operators Kenya chairman Ronald Karauri said last week.

Did you like this article?