CS Ukur YataniNAIROBI, KENYA: Betting companies should not celebrate the new tax laws approved by the government early this week. President Uhuru Kenyatta on Tuesday signed into law the finance act 2020 removing 20 per cent excise tax on betting. “As noted in the print media, the excise tax was removed through the Finance Act, 2020. The government, in 2018, introduced betting tax at the rate of 15 per cent on betting companies and 20 per cent withholding tax on winnings. Further, in 2019, the government introduced excise duty on betting at the rate of 20 per cent of the amount staked.

Source: Standard Digital July 02, 2020 16:01 UTC