Reports reaching Newsday Kenya say President Uhuru Kenyatta has signed the Finance Bill, 2017 into law. The signing into of the bill means that gaming companies will now part with 35 per cent tax.
This comes barely a week after the president refused to sign the bill after members of parliament deleted a clause that was designed to discourage youth from engaging in betting.
Instead, the president recommended for a 35 per cent taxation betting, lotteries and gaming activities.
Earlier on, the National Treasury had recommended for 50 per cent taxation rate.
While reading the 2017/18 budget at Parliament on March 30, Treasury CS Henry Rotich noted that betting and gaming have become widespread.
Rotich proposed the taxes be raised from 7.5 per cent (betting), 12 per cent (lottery), 15 per cent (gaming) and 15 per cent (competition), to the 50 per cent.
