Treasury moves to take 20pc of betting stakes

Betting craze

Treasury moves to take 20pc of betting stakes

Photo credit: File | Nation Media Group

Gamblers will pay the government Sh20 for every Sh100 staked after the National Treasury proposed to increase excise tax on betting stakes to 20 percent, in the latest State onslaught to lower the appeal of betting.

The proposal is contained in the draft Finance Bill, 2024 and if adopted by Parliament will increase the tax from the current 12.5 percent.

The Bill is expected to be adopted by Cabinet and tabled in Parliament for debate and approval before the end of June. Currently, the government takes Sh12.50 from every Sh100 similar amount to be wagered.

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