Big Blow To Betting Companies As Govt Put Punitive Levies

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Betting, Lottery and Gaming firms will face a uniform tax of 50% from the previous 15% of total earnings in the 2017/2018 budget proposal presented to parliament by Cabinet secretary Henry Rotich.

Rotich says the expansion of betting is having negative effects on the youth hence the motive to tax the industry heavily.

The is set to affect over 25 licensed betting companies in Kenya including Sportpesa, Betin, Mcheza, Lotto and many more.

The CS says the collected tax will then fund the youths in sports development and aid in improving the sports sector.

SHADRACK NICOLUS

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