Kenya’s government is denying reports that it has permanently repealed its controversial 20% tax on sports betting stakes, plunging the already disrupted market into further turmoil.
Earlier this week, Kenya’s President Uhuru Kenyatta signed the legislature’s new Finance Bill 2020, which eliminated the 20% tax on bettors’ winnings that resulted in many of Kenya’s leading bookmakers to quit the market last year.
On Thursday, Treasury Secretary Ukur Yatani issued a statement noting media reports that “the government has reneged on this commitment on taxation of the betting industry.” Yatani observed that “the removal of this tax happened during the Committee stage of the Bill.”
Yatani (pictured) went on to state that “following various consultations and in line with the government’s commitment on mitigating against the social vices associated with betting activities” the Treasury will propose to Parliament “the reintroduction of the excise duty on betting within next six months.”