Association of Gaming Operators Kenya yesterday expressed fears that the recent 35 per cent tax on net profits accrued by betting and gaming firms will kill the industry. follows the government's decision to impose a 35 per cent tax on net profits accrued by betting and gaming firms. Previously, lotteries were taxed at five per cent, betting firms or bookmakers at 7.5 per cent, casino gambling at 12 per cent and competitions like raffles at 15 per cent. Lottery could drop by 14.6 per cent,35 per cent in casino gambling and 2.1 per cent in Sportpesa. Kenya Revenue Authority has collected about Sh4.7 billion in corporate tax from betting firms in the two years from 2014 to 2016.

Source: The Star June 23, 2017 21:11 UTC