Sportpesa to Deduct 20%  Tax on winnings

77

Information reaching us indicates that Sportpesa have agreed to deduct 20% winning tax.The source says that it’s because of this tax that the government decided to close the company’s paybill number but after reaching agreement,Sportpesa resolved to deduct the 20% tax as per the law.

Sportpesa will resume operations next week, exactly 6 weeks since its paybill was suspended. But one thing that shocked the government is that the company does not make the Ksh100 billion per year as claimed by certain quarters. The government did thorough audit, going as far as scrutinizing financial statements, MPESA statements and bank accounts and discovered that Sportpesa did not hide any information from them.

The betting firm announced yesterday that they have been cleared by KRA to continue with operations, this information excited gamblers most of whom had taken a break from gambling. We anticipate new and fresh things as they(Sportpesa) resume next week.

Loading...