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President Uhuru Kenyatta is rejecting the bill that will see betting and lottery firms to pay lower taxes.

He insists that the firms must pay 35% of their revenues to taxpayers.

the treasury’s proposal that meant that betting companies continue paying the older tax which was at the rate of 7.5% where casinos and other gaming companies pay 12%, lotteries 5% and prize competition at 15%.

The president firmly rejected the bill insisting that the youth should be discouraged from betting, he further adds that the parliament deleted that particular part of the clause.

Members of parliament have two days to make a decision because their term comes to a close on Thursday.

Betting in the country has rapidly grown since the year 2014 due to mobile phone financial services such as M-pesa.

 

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