Kenya Might Introduce Tax on Winnings
The current 35% levy on gambling and betting services in Kenya might just be reduced by the government, in favour of a 15% tax charge on winnings instead.
The National Assembly leader, Aden Dualle submitted the Tax Law Amendment bill for 2018 earlier last week, on the 16th of April. The bill seeks to reduce the existing tax charge and add a few amendments to Kenya’s current gambling tax laws which include a tax being charged on the gambling and betting winnings.
Tax on Winnings for Kenya Players
The new bill appeals for the introduction of tax charges on all the winnings from the realm of online casino gambling. If the proposal gets approved, this means that the online casino operators, as well as sports bettors, will have to deduct about 20% on every win made by any of their players.
More so, the tax consultants illustrated that the government of Kenya must clarify how the tax will be charged on the players’ winnings. In the event that maybe a player wins a car or any other prize that is not monetary compared to cash prizes that make it easier for the tax to be deducted.
Kenya used to have a law that charged tax on betting winnings for online casino players, but that law was dismissed because of the difficulties that affected the law’s proper implementation. The new proposal for the tax to be charged on players’ winnings targets to minimise the gambling activities within the Kenyan market, specifically the youth of Kenya.
The realm of online casino gambling forms a huge part when it comes to tax payments made to the government. However, there hasn’t been a decision made as yet to confirm whether this bill will be passed or not. We will do all we can to keep New Zealand online casino players posted on this matter.