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radiomast
#2201 Posted : Wednesday, October 02, 2019 4:26:44 PM
Rank: Member

Joined: 2/15/2018
Posts: 428
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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  | | Edit by user: Wednesday, October 02, 2019 4:29 PM | Reason: Not specified
murchr
#2202 Posted : Wednesday, October 02, 2019 4:36:56 PM
Rank: Elder

Joined: 2/26/2012
Posts: 15,980
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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Angelica _ann
#2203 Posted : Thursday, November 07, 2019 6:48:19 PM
Rank: Elder

Joined: 12/7/2012
Posts: 11,935
SportPesa, Betin win tax row on bet prizes


https://www.businessdail...-asAMP-u3qe9r/index.html
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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whiteowl
#2204 Posted : Saturday, November 09, 2019 12:43:35 PM
Rank: Veteran

Joined: 4/16/2014
Posts: 1,420
Location: Bohemian Grove
[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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Angelica _ann
#2205 Posted : Saturday, November 09, 2019 5:50:24 PM
Rank: Elder

Joined: 12/7/2012
Posts: 11,935
whiteowl wrote:
[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.


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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dunkang
#2206 Posted : Saturday, November 09, 2019 6:35:12 PM
Rank: Elder

Joined: 6/2/2011
Posts: 4,824
Location: -1.2107, 36.8831
Angelica _ann wrote:
whiteowl wrote:
[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.


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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Queen
#2207 Posted : Monday, November 11, 2019 8:28:48 AM
Rank: Member

Joined: 11/21/2018
Posts: 564
Location: Britain
dunkang wrote:
Angelica _ann wrote:
whiteowl wrote:
[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.


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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  | | Edit by user: Monday, November 11, 2019 8:30 AM | Reason: Not specified
whiteowl
#2208 Posted : Wednesday, November 13, 2019 5:45:38 PM
Rank: Veteran

Joined: 4/16/2014
Posts: 1,420
Location: Bohemian Grove
@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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Njunge
#2209 Posted : Thursday, November 14, 2019 11:27:25 AM
Rank: Elder

Joined: 2/7/2007
Posts: 921
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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mkenyan
#2210 Posted : Friday, November 15, 2019 9:15:12 PM
Rank: Veteran

Joined: 4/1/2009
Posts: 1,885
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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