Archive for the ‘Online Casino Real Money No Deposit Australia’ Category

Kenya Ups Its Gambling Tax Speed as Online Betting Booms Across Africa

Monday, March 16th, 2020

Kenya Ups Its Gambling Tax Speed as Online Betting Booms Across Africa

In an attempt to corral the growth of an industry that has in recent years taken a country by storm, Kenya has imposed a major tax hike on betting organizations.

Kenyan President Uhuru Kenyatta approved an increase that is huge gambling taxes this week, hoping to slow the growth of just what politicians believe can be an undertaxed online gambling boom.

On Wednesday, President Uhuru Kenyatta signed a finance bill into legislation that will levy a 35 % taxation rate on all gambling revenue for bookmakers, casinos, lotteries, and other business involved in wagers. (That’s in addition up to a 30 percent corporate income tax that all companies pay in Kenya.)

The potentially prohibitive tax increase will connect with all forms of gambling, including online gambling, which accounts for many of the gambling currently happening in Kenya. Previously Kenya taxed bookmakers at 7.5 percent, casino gambling at 12 percent, raffles and competitions at 15 %, and lotteries at 5 %.

Supporters of the income tax and members of President Uhuru’s Jubilee party said it was time for you to contain the growth of gambling that is being facilitated by technology but otherwise is certainly going unchecked.

‘ We were very concerned about wagering among school-goers it difficult for people to bet,’ President Uhuru said during an online town hall in April so we made. ‘ We wish individuals who bet to have their money go to constructi (more…)