Gambling tax measures affecting revenue and killing jobs

What you need to know:

  • Foreign companies are still accessible from Kenya online.

  • Unreasonable tax demands enrich foreign firms while affecting local revenue and killing jobs.

  • Playing platforms and payment gateways are Web-based open sources.

  • So, increase in play costs drives customers to the platforms.

  • The worst-case scenario is the proliferation of illegal gaming, which makes policing an uphill task.

Globally, the sports betting industry has seen exponential growth to become a lucrative sector with huge returns for investors and the economy. However, whereas the West, from where sports betting was imported, has devised ways of reaping the benefits, Kenya (and Africa at large) is still struggling with how to consolidate these economic gains as well as regulate the industry.

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