In an attempt to corral the development of a market that has in recent years taken a nation by storm, Kenya has imposed a major tax hike on betting organizations.
Kenyan President Uhuru Kenyatta approved an increase that is huge gambling fees this week, hoping to slow the growth of exactly what politicians believe can be 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 types of gambling, including online gambling, which accounts for some of the gambling currently happening 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 tax and members of President Uhuru’s Jubilee party said it was time for you to contain the development of gambling that is being facilitated by technology but otherwise is going unchecked.
‚ We were very concerned about betting among school-goers it difficult for people to bet,‘ President Uhuru said during an online town hall in April so we made. ‚ We wish those who bet to have their money go to projects that are construc Pokračování textu Kenya Ups Its Gambling Tax Speed as On The Web Betting Booms Across Africa