The government of Kenya has voted to reject a proposal to lower the tax paid by gambling operators, which currently carries a hefty 35% rate.
The National Assembly Committee on Labor and Social Welfare had withdrawn their amendments to lower the taxes, which were raised to 35% from 7.5% on January 1st. The rate was raised to "protect players" and to discourage betting expansion in the African country. The move has quickly made the Kenyan market unappealing to many operators, who're considering puling out of the country.
The proposal would have reduced the tax to 15% while taxing player winnings by 20%.
Kenya is one of the biggest betting markets in Africa, with online betting proving to be especially lucrative.
We'll be keeping an eye on the Kenyan market and will be updating readers as we learn more about regulatory changes.
Wow, I thought it's a reasonable proposal before reading this, glad they didn't accept it in the end.