Kenya plans to reinstate the 20% stake tax that led to Sportpesa’s demise.

kenya

Kenya’s Treasury has announced plans to reinstate the 20% tax on betting and gaming stakes that forced Sportpesa and Betin to exit the market in 2019.

The country’s Treasury has released its 2022 Finance Bill, which includes a proposal to raise the unpopular betting stakes tax from 7.5 percent to 20%. This levy covers gaming and “prize competitions” in addition to betting and lotteries.

KPMG, a professional services firm, stated in an examination of the bill that the government was likely trying to “bridge the revenue gap” caused by rising inflation by using excise taxes.

The Treasury intends to levy a 15% excise on gambling marketing in addition to the stake tax.

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Nassima Azmzm

Nassima Azmzm

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