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Kenya urges gambling taxes review

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The parliament of the country has unveiled new plans to lower taxes for the legally operating online sports betting companies.

The Upper House of Kenya has decided to cut the proposed tax on lottery and betting winnings to 10 per cent and supported the option to lower gaming levies by more than half to 15 per cent.
As Business Daily Africa reported, the Finance and National Planning Committee has proposed a reduction of tax on winnings from the 20 per cent that the Treasury had presented to 10 per cent.

The Joseph Limo-chaired committee said in its report on the consideration of the Tax Laws (Amendment) Bill, 2018: “To be able to increase the tax base to also include winnings who form approximately 88 per cent of all the revenue generated from these activities and because this is the first time taxation is being introduced, the committee was of the view that 20 per cent is too high and hence the adoption of 10 per cent for both residents and non-residents.”
T

he committee was in favour of the Treasury’s proposal to reduce gaming tax from 35 per cent to 15 per cent. The move gives hope to companies that have opposed the new tax, which came into effect on January 1st.

Source: FocusGamingNews

Source: Latest News on European Gaming Media Network

George Miller (Gyorgy Molnar) started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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Swedish iGaming Market Posts a Turnover of €313.8 Million in Q1

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7-15 Swedish iGaming Market Posts a Turnover of €313.8 Million in Q1Reading Time: 1 minute

 

Swedish iGaming market has revealed its first financial report for the first quarter and posts a total turnover of €313.8 million. ATG, the former horse racing monopoly, led the market with a turnover of €102 million.

In January, online gaming turnover reached €106 million, slightly declined to €104 million in February and was flat in March.

The Svenska Spel Sport & Casino reported turnover of €55 million for the three months, €18 million in January, €18.3 million in February and repeated in March.

The newly-regulated Swedish iGaming market was launched on January 1, introducing major changes for the local industry, such as the rebrand of the local regulator and the introduction of new iGaming companies.


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Swedish iGaming Market Posts a Turnover of €313.8 Million in Q1

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Iowa House Passes the Bill to Legalise Sports Betting

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6-10 Iowa House Passes the Bill to Legalise Sports BettingReading Time: 1 minute

 

The Iowa House has passed a bill which legalises betting on sporting events and fantasy sports and send it to the governor for consideration.

The Senate gave its approval and the bill now goes to Gov. Kim Reynolds who has said she will await the final version of the bill to decide whether she will sign it.

The bill authorises the Iowa Racing and Gaming Commission to establish rules for betting on professional, collegiate and international sporting events, including motor racing.

The bill also legalises fantasy sports contests and internet fantasy sports betting but delays betting based on college sporting event statistics until May 2020.

The commission regulates the 19 state-licensed casinos in Iowa. Once the rules are set up by the commission as early as this summer sports bets can be placed at casinos or on a mobile application they establish.

Sports betting would be limited to those 21 and older, and the bill sets a 6.75% tax on net receipts. Taxes and licensing fees could bring in estimated annual revenue of $2.3 million to $4 million annually.


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Iowa House Passes the Bill to Legalise Sports Betting

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Japan Approves New Scheme to Stem Problems Related to Gambling

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5-14 Japan Approves New Scheme to Stem Problems Related to GamblingReading Time: 1 minute

 

As part of a plan to stem problems related to gambling, Japan has approved a scheme which limits people’s access to casinos and other betting establishments as well as removing cash machines from these locations. The move comes ahead of the opening of several casinos in the country.

Based on the plan, prefectures in the country will also come up with their own steps to counter any gambling-related problems.

“We will create a healthy society by thoroughly implementing measures based on the basic plan in order to prevent people from finding themselves in difficult situations,” Chief Cabinet Secretary Yoshihide Suga said.

Under the basic plan, operators of slot machines, pachinko parlours and government-operated gambling venues, including horse racing and keirin racing tracks, have been asked to remove cash machines from their facilities. Pachinko parlour operators are urged not to allow customers to enter their premises if requested by family members. The authorities also urged horse racetrack operators to utilise facial recognition systems to restrict the entry of gambling addicts.

Other measures in place include a proposal on putting up warnings about gambling addiction on newspapers, magazines, and TV commercials. It also urges the country’s 47 prefectures and 20 major cities to set up treatment facilities for gambling addicts by 2020.


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Japan Approves New Scheme to Stem Problems Related to Gambling

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