Betting Companies Slapped With Shs 200m Tax

The recent heroics of a Iganga Arsenal supporter who lost a residential house after placing a personal bet with a colleague in an English Premier League fixture between Manchester United and Arsenal has woken up the government to set up harsh measures and regulations on sports betting and gambling.

bettingManzi Tumwine, the Board chairman of National Lotteries Board has today announced heavier license fees for sports betting, casino and gambling businesses at the Uganda Media Centre in Kampala.

Effective 1st January 2014 every, Casinos must have paid Ug. Shs 10 M, Gaming and Pool betting 5 M, agents 1 M while 200 M has been set for every betting Company as a special Security bond. To qualify for an operational license.

Government has introduced the security bond fee to safe guard the general public against firms that refuse to pay clients after they have won their stakes.

“Some clients place bets and after winning, the companies close down and refuse to pay them. They come complaining to us and we have no solution.

The gambling and pool Act(1967) is also being amended according to the board that fetched squeezed  Ug shs.8 Billion as taxes from sports betting while in 2013, Ug Shs. 12 Billion is projected in the next financial year.

 

 

 

 

Facebook Comments