Kenya's betting sector drives KRA's 7.3% revenue growth in October 2024

The Kenya Revenue Authority (KRA) has exceeded its revenue collection target for October 2024, achieving a notable 7.3% growth. This increase is largely attributed to the Excise Tax on Betting Services, which surpassed its target by 4%, totaling Kshs 1.085 billion, fueled by the excitement of ongoing European major leagues for the 2024/25 season, including the English Premier League, La Liga, Bundesliga, and Ligue 1. Overall, taxes from betting activities exceeded expectations by Kshs 66 million, with Kshs 16 million coming from betting tax and Kshs 50 million from excise tax on betting services.

In Kenya, the betting sector is subject to a complex tax regime that includes a proposed rise in excise tax on betting stakes from 12.5% to 20%, a withholding tax of 20% on winnings, a corporate tax of 30% on betting firms' profits, and a gambling tax of 15% on gross gaming revenue.