Kenya has increased the excise tax on betting stakes from 12.5% to 15% under the Tax Laws (Amendment) Act 2024. For instance, for every stake of ksh 100, gamblers will now pay Sh.15 instead of Sh.12.5.
Taking this solid measure, Kenya aims to address the issue of gambling addiction experienced in most population of youth, given statistics that shows Kenya has 76% of youth gamblers which is the highest rate in Africa.
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Despite increased taxation, including a 20% withholding tax on winnings and various levies on betting firms, the industry continues to grow, with licensed operators doubling to 200 in three years.
The Financial Access Report 2024 shows 40.4% of Kenyans aged 18-45 actively bet, particularly among urban and educated populations. Betting companies face multiple taxes, including 15% on gross gaming revenue and 30% corporate tax, with daily remittance requirements by 1:00am, though attempts to introduce additional levies were unsuccessful following public protests.
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