Treasury Cabinet Secretary Henry Rotich has increased excise duty on betting. Every amount staked will attract up to 10% excise duty.
During the budget reading in the National Assembly, CS Rotich noted that this industry had gained a massive expansion. This has had a negative effect on not only the young people in the country but also vulnerable Kenyans.
“Mr Speaker, betting has become widespread in our society and its expansion has had negative social effects, particularly to the young and vulnerable members of our society,” said Rotich.
“In order to curtail the negative effects arising from betting activities, I propose to introduce excise duty on betting activities at the rate of ten per cent of the amount staked," he added.
The betting industry is always flourishing even as the government seeks ways to end it. Not long ago, the government wanted to ban them from advertising themselves.
However, they took matters to the court which gave them a lifeline.
According to Treasury Cabinet Secretary Henry Rotich, if the proposed 10% tax on all amount staked in betting goes through, this will mean the betting industry has been dealt a major blow.