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  1. #1
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    The Buzz is offline GPWA Gossip Hound
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    Default Kenya to raise gambling tax rate 35%

    Kenya President Uhuru Kenyatta signed a law on Wednesday that raises the tax rate on gambling, but sets it at a lower rate than had originally been proposed.

    From Reuters Africa:

    The law will impose a tax of 35 percent of gross profits on all gambling. Until now, lotteries were taxed at 5 percent, betting firms - bookmakers - at 7.5 percent, casino gambling at 12 percent and competitions like raffles at 15 percent.

    Secretary for the National Treasury Henry Rotich had originally proposed raising the tax rate to 50 percent, saying the rapid growth of on-line gambling hurt the young and vulnerable, and the proceeds from the tax would fund sports, culture and the arts.

    Gambling in Kenya generally takes place on-line. Mobile- phone-based financial services like M-Pesa by Safaricom allow users to place bets, pay off losses and get winnings on their phone without needing a bank account.

    Industry executives say about 7 million out of 45 million Kenyans have registered for betting services. No figures are publicly available on the industry's profits.

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  3. #2
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    Pokerface is offline Public Member
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    Taxation is never a popular topic. Raising taxes can be used to help reduce consumption, for example tobacco and at a time fuel. Or taxes can just be a tax grab, like fuel.

    There could be an argument that a higher tax rate might reduce the number of people gambling however those that really want to take their chances will be happy with anything regardless of the taxes. Receiving 65% of your winnings is better than receiving nothing.

    That being said government reap the rewards from taxation. Depending on their motives for higher taxation is the key question. If governments want to curb gambling then should take legislative measure to restrict and/or eliminate gambling in the market. On the other hand governments are happy to receive increased revenues.

    Good example … health ministers would love to eliminate the sale and use of tobacco products however the finance ministers need the revenue to fund the government and projects. The two will never meet.
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  4. #3
    casivo is offline Restricted Account
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    Hi, will the taxes apply for all types of gambling? E.g. both betting and casino?

  5. #4
    Vlad1990 is offline Public Member
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    Hi
    The situation didn't change?

  6. #5
    Sam Bobcasino is offline Public Member
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    is there the final decision?

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