FKF petitions govt over betting companies tax proposal

INSET: FKF President Nick Mwendwa Addressing the press. PHOTO: Courtesy

Football Kenya Federation (FKF) has petitioned the Government to consider reviewing a recent proposal to levy a 50 per cent tax on betting companies.

The proposal, contained in the Finance Bill 2017 and announced by Treasury Cabinet Secretary Henry Rotich in his recent Budget Statement, seeks to increase the current tax rate payable under the Betting, Lotteries, and Gambling Act to 50 per cent.

If implemented, the industry will be taxed half of its gross earnings before expenses, including marketing costs, and thereafter subjected to a further 30 per cent tax on net profit after deduction of all other expenses.

In a statement issued by FKF Chairman Nick Mwendwa, the official describ