Kenya PM’s nix prohibitive gambling tax rate

Kenyan members of parliament (MP) have rejected the prohibitive 50 percent tax rate on betting companies proposed by the National Assembly’s Finance Committee (see previous reports) last month.

“The rate is punitive enough to discourage such activities,” a committee report reads, which was apparently compiled from input received by stakeholders. MP’s have recommended the rate be scrapped.

The Finance Bill is scheduled for the last stage in the Kenyan National Assembly today (Thursday).