This archive report was first published on 21 June 2020.
Kenya's National Assembly Departmental Committee on Finance and National Planning has made a significant move to reverse the negative effects of the 20% excise duty on betting, which led to the closure of several betting companies in the country.
Despite international players continuing to operate in Kenya, the Kenya Revenue Authority (KRA) had ordered gaming companies to start submitting the revenue collected from the 20% excise tax deducted from stakes placed by punters.
However, in a report on the Consideration of the Finance Bill, the committee, led by Chairman Joseph Limo, revealed that the proposal to tax retirement benefits had been dropped following consultation with the National Treasury.
The committee also stated that liquefied petroleum gas (LPG) and propane should not be taxed, citing the adverse effects it would have on Kenya's socio-economic transformation.
According to the report, all stakes placed on bookmakers shall no longer attract excise duty at the rate of 20%, which was previously charged at the time of staking and remitted to the Commissioner of Domestic Taxes on or before the 20th day of the following month.
