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Angelica _ann
#2211 Posted : Friday, December 06, 2019 3:45:20 PM
Rank: Elder

Joined: 12/7/2012
Posts: 11,935
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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Njunge
#2212 Posted : Friday, December 06, 2019 10:36:48 PM
Rank: Elder

Joined: 2/7/2007
Posts: 921
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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whiteowl
#2213 Posted : Saturday, December 07, 2019 4:39:53 AM
Rank: Veteran

Joined: 4/16/2014
Posts: 1,420
Location: Bohemian Grove
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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passiveinvestor
#2214 Posted : Saturday, December 07, 2019 8:16:59 AM
Rank: Member

Joined: 12/8/2006
Posts: 104
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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whiteowl
#2215 Posted : Saturday, December 07, 2019 12:53:55 PM
Rank: Veteran

Joined: 4/16/2014
Posts: 1,420
Location: Bohemian Grove
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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Njunge
#2216 Posted : Tuesday, December 17, 2019 3:38:07 PM
Rank: Elder

Joined: 2/7/2007
Posts: 921
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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  | | Edit by user: Tuesday, December 17, 2019 3:40 PM | Reason: Not specified
Queen
#2217 Posted : Tuesday, December 17, 2019 4:27:52 PM
Rank: Member

Joined: 11/21/2018
Posts: 564
Location: Britain
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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Bigchick
#2218 Posted : Tuesday, December 17, 2019 4:59:52 PM
Rank: Elder

Joined: 2/8/2013
Posts: 4,068
Location: At Large.
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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Angelica _ann
#2219 Posted : Tuesday, December 17, 2019 5:02:18 PM
Rank: Elder

Joined: 12/7/2012
Posts: 11,935
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.smilesmile smile
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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Njunge
#2220 Posted : Tuesday, December 17, 2019 11:35:18 PM
Rank: Elder

Joined: 2/7/2007
Posts: 921
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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