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Kenyan President Uhuru Recommends 35% Tax on Betting Firms

Kenyan President Uhuru Recommends 35% Tax on Betting Firms

 The Kenyan President Uhuru Kenyatta has recommended a 35% tax on betting, lotteries and gaming activities.

President Kenyatta made this recommendation to the Speaker of the National Assembly in a memorandum.

President Kenyatta vetoed the 2017 Finance Bill, meant to modify various tax and duties related laws, citing that the Parliament deleted the clause that was designed to discourage young people from engaging in betting.

However, the MPs gave out a Treasury proposal on betting firms’ taxes after paying out winnings to be increased to 50% and rejected 35% tax proposal that was presented by the Majority Leader Aden Duale. They argued that it was illegal as the Finance Committee had not been consulted.

The Finance, Trade and Planning Committee received the backing of MPs and successfully argued that the 50 percent that had been approved last week was too high and likely to kill the industry.

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