How to Avoid Betting Tax in Kenya
Are you tired of losing a chunk of your betting winnings to taxes in Kenya? Well, you’re not alone. Many bettors in Kenya are looking for ways to avoid paying betting taxes, and we’re here to help. In this article, we’ll provide you with some tips on how to avoid betting taxes in Kenya. But first, let’s discuss what betting taxes are and why they exist.
Betting taxes are levies placed on the profits of bettors by the government. In Kenya, the government introduced a betting tax of 20% on all betting winnings in 2018. The purpose of this tax is to generate revenue for the government, which can be used to fund various initiatives such as healthcare, education, and infrastructure.
While the betting tax may seem like a necessary evil, many bettors feel that it’s unfair to tax their winnings. If you’re one of these bettors, here are some ways to legally avoid paying betting taxes in Kenya.
Without further ado here is how to avoid betting tax in kenya
1. Bet on international sites
One way to avoid betting taxes in Kenya is to bet on international sites. Since these sites are not based in Kenya, they are not subject to Kenyan betting taxes. This means that any winnings you make on these sites will not be taxed.
However, it’s important to note that betting on international sites comes with its own risks. These sites may not be regulated by the Kenyan government, which means that you may not have legal recourse if you encounter any issues.
2. Bet on tax-free sports
Another way to avoid betting taxes in Kenya is to bet on tax-free sports. Currently, the Kenyan government only taxes betting winnings on sports such as football, basketball, and boxing. If you bet on sports that are not taxed, such as horse racing or cricket, your winnings will not be subject to betting taxes.
3. Bet on sites with promotions
Some betting sites in Kenya offer promotions that can help you avoid betting taxes. For example, some sites offer cashback promotions that give you a percentage of your losses back in the form of betting credits. By using these credits, you can offset any betting taxes you may owe.
4. Consult a tax professional
If you’re serious about avoiding betting taxes in Kenya, it may be worth consulting a tax professional. A tax professional can help you navigate the complex tax laws in Kenya and provide you with advice on how to minimize your tax liability.
Wrapping up how to Avoid Betting Tax in Kenya
In conclusion, while betting taxes may seem like an unavoidable cost of betting in Kenya, there are ways to legally avoid them. By betting on international sites, betting on tax-free sports, using promotions, or consulting a tax professional, you can keep more of your hard-earned winnings in your pocket.