Photo/the-star.co.ke
Stakeholders in the betting industry have condemned the government’s proposal to increase taxation on betting companies to 50 percent.
.Speaking in Nyeri on Sunday, Wario said that local teams will lose nothing from the increase in tax. sin
According to wario, the government is willing and able to sponsor all local leagues through the Ministry of sports.
“You (betting companies) are making billions of shillings and throwing little money around and you are telling us not to tax you. We are going to tax you for as long as you are in Kenya."
Kenyan Premier League chief executive officer Ambrose Rachier says that betting companies have come to the financial rescue of a number of local football clubs, and has urged the government to rethink the proposal for the benefit of the game.
“It is true that betting companies have grown exponentially in the last three years, but they have also helped so many clubs financially. The local league is sponsored by a betting company, and four other premier league clubs and one from the lower division continue to receive financial support from these same companies. “It is time to rethink the proposal tabled during the budget reading because that increase in tax is detrimental and could have devastating effects on the industry,” he said.