President Uhuru Kenyatta boosted the Kenyan betting market by lowering the tax which applies to players’ winnings to 7.5%. Securing its presidential approval, the Kenyan Revenue Authority (KRA) has agreed to lower Kenya’s 20% tax imposed on winnings deriving from licensed bookmakers.
This tax charge was approved as a measure of Kenya’s 2020 Finance Bill, but it was suspended due to an injunction by the Nairobi High Court which demanded a justification by the KRA, for doubling the tax rate which was originally settled at 10%.
Treasury Secretary Ukur Yattani undertook a review of business tax rates and his Finance Committee recommended the KRA to impose a blanket 7.5% betting tax on all gambling verticals, including lotteries. A measure that required President Kenyatta’s ascent in order to be approved.
It is no secret that Kenyatta was an opponent of the gambling sector at such a point, that in 2019 his administration ordered national telecoms and banks to terminate all business services for licensed bookmakers.
Despite the uncertainty of the gambling legislation, Kenya’s sports betting market has welcomed new betting companies over the past years.
At the start of 2021, Betsson AB began operating in the country, in partnership with the BCLB licensed company Bet High. Betsson made it clear that it is committed to sustainable growth within Kenya by launching and promoting the market’s first safer gambling program for players.