While the government in Kenya has already been harsh on gambling and betting companies in the country, 2020 will be even more difficult for betting operators.
Kenyan lawmakers are bent on introducing stringent regulations tightening the noose around betting operations in the country.
The country’s betting industry will be burdened with further taxes that would be levied following fresh amendments to the country’s Gaming Bill 2019 brought by the National Assembly Sports Committee. The new taxes are expected to come into effect by mid-2020.
The Star Kenya reports that the new tax which would be 1 percent of its total revenue generated by betting companies, due to be paid by 20th of every month will come into effect by June 2020.
The report, due to be adopted, says firms will be charged a gaming levy at 1 percent of its total revenue for the period, monies which must be paid by the 20th of every month.
It is also reported that the operators failing to comply will have to pay a fine fo Sh200,000. The money raised from the fine will go to fund the National Gaming Authority’s operations.
Speaking to Star Kenya, National Assembly Sports Committee chairman Victor Munyaka, said that they are committed to seeing the bills be enacted into law and come into effect.
“It was a priority business before we broke for recess. We will fast-track it when the House resumes to effect the tax measures this financial year,” Munyaka said.
The Committee had earlier sought public consultation on the bill following which it had prepared a report. The report also advocates introducing fresh taxes and greater controls on betting advertisements.
A tax of 35 percent on betting adverts is proposed in the report. The tax would be paid to the country’s gambling authority and the authority will also be tasked with screening and monitoring of gambling adverts in the country.