KES 5.8 billion tax collected from 16 betting firms since November 2022 – KRA
The Kenya Revenue Authority (KRA) collected KES 5.8 billion from 16 betting firms since mid-November 2022, the Authority has said.
This comes after the tax collector integrated its systems with those of the firms following a directive issued in October 2022.
The integration was done in batches of taxpayers in two phases, namely, daily tax remittances and real-time data transmission.
The first phase, which involved daily remittances on Excise duty and Withholding tax on winnings, commenced in mid-November 2022 after a successful pilot, and 16 companies have been onboarded.
The second phase began at the end of January 2023, and data on betting and gaming transactions are being received from the 16 firms already onboarded. Payments are received every morning by 7:30 am.
The move is aimed at increasing transparency and accountability in the betting and gaming industry, ensuring that the government collects its fair share of taxes.
The introduction of real-time or near real-time tax remittance is also expected to improve tax compliance among betting and gaming companies and ensure that they contribute to the country’s economic growth.
According to KRA, the real-time or near real-time tax remittance will provide a win-win situation for both the government and the betting and gaming industry, as it will help the industry to thrive while ensuring that the government receives the taxes it is due.
KRA noted it has collected KES 15.8 billion so far in the current financial year, against a target of KES 24 billion. Last year, KRA collected KES 21 billion in taxes from betting.
The Kenyan gambling market has an estimated gross turnover of KES 50 billion as of June 2022, with over 170 firms licensed to operate in the country. Online betting and gaming are the most popular products offered in the Kenyan marketplace, although physical betting shops and land-based casinos are also available.
Lotteries are also popular, and the proceeds of the withholding taxes (Withholding tax on Winnings and Excise Duty) are paid into the Sports, Arts and Social Development Fund established under the Public Finance Management Act, 2012.
The integration of betting firms with the KRA systems is being implemented in phases, starting with the top companies based on total betting taxes revenues in FY 2021/2022. The next step is to onboard all the active betting and online gaming firms across the country, with 20 companies already identified for onboarding.
Commenting on the development, KRA said, “The targeted tax heads are Excise Tax (7.5% on Stakes) and Withholding Tax (20% on Winnings). Taxpayers are expected to integrate their systems with the Kenya Revenue Authority (KRA) systems to enable real-time or near real-time tax remittance.”
Shows
See AllAM Live
AM Live is NTV's morning current affairs show that sets the agenda for the day with insightful panels every weekday.
Business Redefined
Business Redefined is Kenya’s premier thought leadership platform for unpacking matters regarding economic and finance policy as well demystifying complex developments in the region’s capital markets.
Comedies
A collection of our premium content. Diam curabitur vehicula A collection of our premium content. Diam curabitur vehicula
Documentaries
A collection of our premium content. Diam curabitur vehicula A collection of our premium content. Diam curabitur vehicula
Entertainment
A collection of our premium content. Diam curabitur vehicula A collection of our premium content. Diam curabitur vehicula
Full Episodes
A collection of our premium content. Diam curabitur vehicula A collection of our premium content. Diam curabitur vehicula
Gumzo La Sato
Gumzo La Sato is a live social issues show that aims to create awareness about issues affecting the larger society. The discussions range from Parenting, Marital bliss and struggles, Oppression, violence, and all matters of the Heart.
Health Diary
Health Diary is a weekly show that highlights different types of diseases/conditions and seeks ways to prevent, treat/manage them. The show debunks this through real life stories and also feature specialists in different fields, to offer medical advice on the same.
Letter To My Younger Self
Letter To My Younger Self is a podcast where guests get to write a letter to their younger self, from which Maxine formulates questions to ask them during the hour-long show.
Nation Reports
Nation Reports is a weekly podcast offers an opportunity for listeners to interact with various reporters and journey with them as they unravel the biggest most emotive stories.
One Health Lens Podcast
Discussing health matters and human stories from Kenya and across Africa. We talk big picture from people to policy, ecosystems, and everything in between. Follow us on LinkedIn: https://www.linkedin.com/company/onehealthlens
Paradise Lost
Paradise Lost peeks through the story of Louis Otieno, the times, and everything in between.
Primetime
A collection of our premium content. Diam curabitur vehicula A collection of our premium content. Diam curabitur vehicula
Speaking of GEN Z
Speaking of Gen Z brings you entertaining but meaningful conversations about a generation that is trying to navigate through adulthood. Join hosts Michelle, Jackie and Esther as they unravel all things Gen Z.
Sport On
Sport-On is a 30-minute sports magazine show on NTV and 3 hours on NATION FM. The show seeks to give the sports “fanatics” and “funatics” comprehensive and in-depth coverage of sports both locally and internationally.
Tech-over
The extent of technological growth is beyond mere acknowledgment; it has seamlessly integrated into our daily existence. A few years ago, the notion of paying electricity bills through mobile money or recharging with 'tokens' in Kenya seemed inconceivable. Online product sales were considered distant, and artificial intelligence is rapidly reshaping various facets of our lives. Amidst these technological leaps, those with a solid understanding of tech can navigate challenges, seize opportunities, and build a sustainable livelihood. Tech over Show aims to be the platform facilitating discussions among thought leaders, innovators, tech companies, and the government, addressing challenges and opportunities in Kenya's thriving tech industry.
Thamani
Thamani is a business show which is dedicated to emerging issues regarding micro, small and medium size businesses.
The Politalk podcast
This is The Politalk podcast. Here we look into the ins and outs of everything Kenyan politics. We pull no punches and have no reason to sugarcoat anything that matters to Kenyans.
The Trend
A two-hour-long live show that airs on Fridays. The show focuses on what is current in the entertainment industry, controversial and popular across all media platforms targeting those aged between 25 and 35 years.
The trend podcast
The trend podcast highlights and captures the best of banter from #TTTT segment that airs every Friday on NTV. It's the TTTT EXTRA
The Wicked Edition
The Wicked Edition with Dr. King’ori seeks to address serious issues through humour and relatable wit. It is a two-part half hour show filmed in front of a live audience
Trending
A collection of our premium content. Diam curabitur vehicula A collection of our premium content. Diam curabitur vehicula
Twende
Twende is a travel show that highlights beautiful, unique, diverse locations, people, and cultures. The show offers fresh perspectives on familiar locations and memorable experiences in new ones.
Unscripted
This Saturday evening lifestyle show lets viewers share their stories and life experiences as openly & honestly for the purpose of shifting the culture of silence.
VIP Access
VIP ACCESS is Anyiko Owoko’s YouTube and podcast show on Music and Culture dedicated to promoting Africa’s most promising talent and creatives. This podcast grants you VIP access into timeless interviews while providing a platform for rising as well as established artists across the continent. Since launching in 2018, Anyiko has interviewed over 70 African music stars.
WADR
This weekly news show aims to have all sides of debate but not be constrained by it, listen to main voices in the contest but not allow them to hold the viewers hostage, entertain debate but allow push back with all due respect.
When death do us part
In this podcast, three widowers openly speak about the process of grief, how they found themselves exposed to the emotional turmoil of losing their wives, and how society still does not know how to deal with them.
Your World
Your World is a health, wellness and variety show. It provides a platform for audiences and experts to share their experiences on how to improve or manage health issues, across Kenya and the Africa region.