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Rank: Member Joined: 2/15/2018 Posts: 428
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hardwood wrote:It is very wrong to collect money from impoverished kenyans to go and sponsor premier league clubs and formula 1 racing, while also enriching the eastern european owners of the gambling firms. The illicit transfer of resources from poor africa to rich europe must be condemned. That is modern day slavery and it must be stopped. Gambling should be outlawed. Gambling will not be outlawed. What has happened is that Sportpesa has been forced out to make way for gambling firms owned by well connected Kenyans. At least Sportpesa was making it possible for Kenyan youth to earn a living playing sports or in other capacities like referees, physiotherapists, equipment managers etc. A country that has a high youth unemployment rate needs such opportunities. Now a youth who would have opportunities to make money as a boxer will now resort to mugging and robbery and burglary. The betting companies that are left will not invest anything in Kenyans. The owners will stash their money overseas and use it to bribe politicians like Mariga and Jumwa and Khalwale.
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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2012 wrote:murchr wrote:radiomast wrote:2012 wrote:murchr wrote:Why is the govt frastrating gambling/sports betting yet that is money circulating in the economy?
I may not agree with these firms sponsoring clubs in the UK but why is there so much aggression against local betting firms? Sports betting is big money to the economies all over the world.
What happened to Kibaki's dream of making Isiolo the center of gambling in Kenya? How exactly is this money circulating in the economy??? Everton is not within our economy! I have no issue with building a Vegas in Isiolo or North Eastern where the rich go but these small bets of 20 bob on promises of making millions in an impoverished country like Kenya is a disaster for the young jobless generation. Safaricom as much as I respect it, is an enabler of poverty. Sportpesa was sponsoring 2 or 3 local football teams, sponsoring the KPL, boxing, rugby ....... Given that this is Kenya, I suspect that Sportpesa was forced out to make way for another gambling company owned by a senior gava official Even the small winnings are money circulating in the economy. As I stated above, the sponsoring of an English club was stupid, it even exposed them to too much scrutiny, but as long as they were sponsoring teams that the govt had no other way o sustaining them then its a loss. When you see a company where the major shareholders are forge in and don't even leave here then know that most of the money is repatriated out of the country. This is a private business that is in the sector of greed that's why even paying taxes is an issue. Even the largest shareholders of google and microsoft dont leave live here. That is another nonsensical thinking. The govt should have mechanisms to control the movement of money in an economy "There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
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Rank: Elder Joined: 12/7/2012 Posts: 11,908
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SportPesa, Betin win tax row on bet prizes https://www.businessdail...-asAMP-u3qe9r/index.htmlIn the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
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Rank: Veteran Joined: 4/16/2014 Posts: 1,420 Location: Bohemian Grove
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[quote=Angelica _ann]SportPesa, Betin win tax row on bet prizes https://www.businessdail...asAMP-u3qe9r/index.html[/quote] Tax revenue has evaporated so the damage is already done.
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Rank: Elder Joined: 12/7/2012 Posts: 11,908
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What do you mean, fafanua? In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
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Rank: Elder Joined: 6/2/2011 Posts: 4,818 Location: -1.2107, 36.8831
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Angelica _ann wrote:What do you mean, fafanua? tax collected by kra since july 2019 from gambling activities has dropped by up to 90%, so, the damage is already done. Receive with simplicity everything that happens to you.” ― Rashi
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Rank: Member Joined: 11/21/2018 Posts: 564 Location: Britain
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dunkang wrote:Angelica _ann wrote:What do you mean, fafanua? tax collected by kra since july 2019 from gambling activities has dropped by up to 90%, so, the damage is already done. It hurts to think of the sort of policy makers we have in this country. One day, KRA will collect 100% tax of nothing. E.g instead of collecting 5% of 100 bob, they will find themselves collecting 100% of zero bob.
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Rank: Veteran Joined: 4/16/2014 Posts: 1,420 Location: Bohemian Grove
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@guka and all the other big time punters beware.Betting firms have been ordered to report accounts with huge transactions. You might find yourself on some watchlist.
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Rank: Elder Joined: 2/7/2007 Posts: 921
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whiteowl wrote:@guka and all the other big time punters beware.Betting firms have been ordered to report accounts with huge transactions. You might find yourself on some watchlist. I saw that but I need not worry since I have no dirty money to clean😆
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Rank: Veteran Joined: 4/1/2009 Posts: 1,883
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Njunge wrote:whiteowl wrote:@guka and all the other big time punters beware.Betting firms have been ordered to report accounts with huge transactions. You might find yourself on some watchlist. I saw that but I need not worry since I have no dirty money to clean😆 all about tax and kra
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Rank: Elder Joined: 12/7/2012 Posts: 11,908
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Is there a new tax on betting on the bet amount/stake? In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
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Rank: Elder Joined: 2/7/2007 Posts: 921
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Angelica _ann wrote:Is there a new tax on betting on the bet amount/stake? Seen that too. Approx 17% of stake. Where is that from?
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Rank: Veteran Joined: 4/16/2014 Posts: 1,420 Location: Bohemian Grove
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Njunge wrote:Angelica _ann wrote:Is there a new tax on betting on the bet amount/stake? Seen that too. Approx 17% of stake. Where is that from? Just checked the local bookies. 17% on stake then there is still withholding tax on winnings. It must be orders from KRA. Its not in any law but those guys haven't been following laws or court orders unless its in their favour.
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Rank: Member Joined: 12/8/2006 Posts: 104
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whiteowl wrote:Njunge wrote:Angelica _ann wrote:Is there a new tax on betting on the bet amount/stake? Seen that too. Approx 17% of stake. Where is that from? Just checked the local bookies. 17% on stake then there is still withholding tax on winnings. It must be orders from KRA. Its not in any law but those guys haven't been following laws or court orders unless its in their favour. It was in the Finance Bill 2019. https://www.businessdail...73634-694ovw/index.html
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Rank: Veteran Joined: 4/16/2014 Posts: 1,420 Location: Bohemian Grove
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passiveinvestor wrote:whiteowl wrote:Njunge wrote:Angelica _ann wrote:Is there a new tax on betting on the bet amount/stake? Seen that too. Approx 17% of stake. Where is that from? Just checked the local bookies. 17% on stake then there is still withholding tax on winnings. It must be orders from KRA. Its not in any law but those guys haven't been following laws or court orders unless its in their favour. It was in the Finance Bill 2019. https://www.businessdail...73634-694ovw/index.html
There was a TAT ruling against implementation of the 20% tax. They ignored it and filed an appeal. Why even bother with the appeal if they can't abide by the ruling?
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Rank: Elder Joined: 2/7/2007 Posts: 921
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I think I made my bet of the year today.
Kenya vs Eritrea - win for Eritrea at improved odds of 9.57
Ibk vs Hengkuk pink spiders- Korea w volleyball - under 180.5 @ 1.85
A win for Ann Blinkova WTA - 1.55
A win for Japan women football team vs S. Korea - 1.5
Total odds of 41.18 for 10k and a return of 264k profit😁🤗. In the old days, it would have been 400k profit😢
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Rank: Member Joined: 11/21/2018 Posts: 564 Location: Britain
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Njunge wrote:I think I made my bet of the year today.
Kenya vs Eritrea - win for Eritrea at improved odds of 9.57
Ibk vs Hengkuk pink spiders- Korea w volleyball - under 180.5 @ 1.85
A win for Ann Blinkova WTA - 1.55
A win for Japan women football team vs S. Korea - 1.5
Total odds of 41.18 for 10k and a return of 264k profit😁🤗. In the old days, it would have been 400k profit😢 That was brave considering the total odds. You should have a caveat for your fans....DON'T TRY THIS AT HOME!
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Rank: Elder Joined: 2/8/2013 Posts: 4,068 Location: At Large.
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Njunge wrote:I think I made my bet of the year today.
Kenya vs Eritrea - win for Eritrea at improved odds of 9.57
Ibk vs Hengkuk pink spiders- Korea w volleyball - under 180.5 @ 1.85
A win for Ann Blinkova WTA - 1.55
A win for Japan women football team vs S. Korea - 1.5
Total odds of 41.18 for 10k and a return of 264k profit😁🤗. In the old days, it would have been 400k profit😢 And just like that pesa ya Xmas imepatikana.Well done. @Julie have fun lakini usimalize mzee.We need him in 2020. Love is beautiful and so are those who share it.With Love, Marriage is an amazing event in ones life time, the foundation of joy, happiness and success.
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Rank: Elder Joined: 12/7/2012 Posts: 11,908
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Bigchick wrote:Njunge wrote:I think I made my bet of the year today.
Kenya vs Eritrea - win for Eritrea at improved odds of 9.57
Ibk vs Hengkuk pink spiders- Korea w volleyball - under 180.5 @ 1.85
A win for Ann Blinkova WTA - 1.55
A win for Japan women football team vs S. Korea - 1.5
Total odds of 41.18 for 10k and a return of 264k profit😁🤗. In the old days, it would have been 400k profit😢 And just like that pesa ya Xmas imepatikana.Well done. @Julie have fun lakini usimalize mzee.We need him in 2020. Can he now buy us red, purple, white for Christmas.  In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
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Rank: Elder Joined: 2/7/2007 Posts: 921
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Queen wrote:[quote=Njunge]I think I made my bet of the year today.
That was brave considering the total odds. You should have a caveat for your fans....DON'T TRY THIS AT HOME! I can't share such crazy picks😁...actually, the Jap game looked the easiest on paper but Jeez!...I had to wait until the 88th minute for that solitary strike. The 4 minute injury time had me shitting bricks 😂
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