The president of Kenya signs a 7.5 percent stake tax into law

kenya

Kenya’s 7.5% tax on gambling stakes – a reduction from the proposed 20% – has been signed into law by President Uhuru Kenyatta.

The bill, signed by Kenyatta on June 29, was intended to reinstate a controversial 20% excise tax on betting stakes.

This tax was raised from 10% to 20% in 2019. It prompted operators Sportpesa and Betin to leave the market due to a dispute over a 20% tax on stakes.

However, in its amendments to the 2020 Finance Bill, the country’s Finance Committee proposed eliminating the tax entirely. It argued that by driving operators out of the market, the tax increase meant the Treasury collected less tax income.

 

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Nassima Azmzm

Nassima Azmzm

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