The federations urged lawmakers to rethink the overall situation before making any decisions. President Uhuru Kenyatta came up with the proposal in June, rejecting advice from lawmakers to maintain the existing 15 percent tax. President Kenyatta’s decision sparked great resistance from betting companies.
Mr Kenyatta explained that he was trying to fill some of the gaps in the budget by doubling taxes. But since many operators have begun to consider exiting the Kenyan market, this may have the opposite effect. According to a recent survey conducted by the Trends and Insights for Africa (TIFA), the majority (about 60%) of the people oppose the newly introduced legislation.
The survey also showed that 22 percent were in favor of the new law, explaining the risks of social ills and gambling problems as reasons for their position. Most supporters of the law are over 45 years old.
Kenyan Premier League CEO Jack Oguda explained in an exclusive interview with Capital Sports that the new tax will reduce betting companies’ investment in sports, raising unemployment as many young people are in the sport. Betting companies are now financially supporting Kenya’s sports development, as they have witnessed significant declines in the past few years. Representatives from SportPesa, a betting company that invests heavily in Kenyan sports, said they would reconsider the company’s costs if the new law was implemented.
Betting company is a major sponsor of football Kenya Federation, Kenya Premier League, Kenya Rugby Union, Kenya Boxing Association, extreme sports super eight league, Gor Mahia, AFC Leopard, Nakuru All Stars, Kenya Harlequins Rugby Club. The new Kenyan law could lead to the departure of betting companies and leave sports companies with minimal budgets.카지노사이트
The proposal sparked a wave of lobbying on tax increases, with the aim of persuading authorities that the implementation of new laws threatens the development of local sports, as well as the current 15% income the government secures from betting operators.
Members should get their hands on the issues, as they will make a final decision to implement new laws or maintain an old taxation system.