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Betting, gaming players warn against more taxes
Finance Bill, 2024 has proposed the deletion of paragraph 17 from Part II of the First Schedule of the VAT Act, a proposal that, if effected, will bring to an end the exemption of betting, gaming, and lottery from VAT in Kenya.
Betting and gaming industry players have warned that the proposed value-added tax (VAT) on betting and the increase in excise duty to 20 percent risk triggering the disappearance of at least 80 percent of all sportsbook bets in the Kenyan market, rendering investment in the sector unviable and triggering capital flight.
Sportsbook betting refers to the act of risking one’s money on the outcome of a sporting event to make a profit.
