National Assembly majority leader Aden Duale has lauded 2017/2018 national budget read by Finance Cabinet Secretary Henry Rotich following the increment on gambling industry.
Speaking to the Press after the reading of the budget, Duale said that the move to increase taxes imposed on betting, lottery, gaming and competitions will change the lives of Kenyans.
“This is a deterrent and punitive measure to save society. We now need enforcement agencies to move in and regulate this sector,” Duale said.
In the new budget, betting companies have been subjected to tax increment from at least 7.5 per cent to 50 Per cent in a bid to regulate the industry.
The gambling industry has been one of the growing industries in the nations with many betting companies mushrooming up across the nation as per CS Rotich.
"Betting and gaming have become widespread in our society in an environment that is inadequately regulated," said Rotich.
He added: "Its expansion is beginning to have social effects, in particular on the young and vulnerable members of the society."
The increment in the tax comes after several leaders from both the Jubilee and opposition urged the President Uhuru Kenyatta and his Deputy William Ruto to regulate the growing gambling industry.
National Assembly majority leader Aden Duale at a past function. He has lauded this year's budget that was read by Finance CS. www.zipo.co.ke