Nipate
Forum => Kenya Discussion => Topic started by: vooke on July 13, 2019, 09:43:45 AM
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Jubilee is fighting this vice in the most brainless fashion that makes me think Karuri of Sportpesa refused to play ball. At the center of this beef is KRA's argument that Safaricom is a withholding tax agent and it should collect levies off all monies deposited into the wallets as well as withdrawals. Sportpesa and Safaricom insist that deposits are not taxable as they are not committed and can be withdrawn in full less withdrawal charges.
A frustrated KRA or Jubilee orders BLCB to cancel Sportpesa paybill numbers which they do. Sportpesa is crippled as paybill is the only way they receive money for stakes. There is a valid court order against this but Jubilee does not care.
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Why are they killing such a cash cow they can tax. It's indeed brainless. I think Matiangi is upto not good. He is rent-seeking. Everything under his ministry has been shut down and ordered to reapply afresh. From guns, ntsa, driving schools,immigration, name it. First he went for Chinese slot machines...and now he is targetting the impossible.
Sportpesa just need to open an online e-payment platform - and base themselves in Mauritus or some tax haven.
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Why are they killing such a cash cow they can tax. It's indeed brainless. I think Matiangi is upto not good. He is rent-seeking. Everything under his ministry has been shut down and ordered to reapply afresh. From guns, ntsa, driving schools,immigration, name it. First he went for Chinese slot machines...and now he is targetting the impossible.
Sportpesa just need to open an online e-payment platform - and base themselves in Mauritus or some tax haven.
That's part of the problem. While mobile money is the easiest ,it makes them lazy. There should be all sorts of means of payment including bitcoins. But with the license gone, they will have to fold.
Maybe Jubilee should have simply slapped the companies with 60% corporation tax instead of the ambiguous excise duty of 20% on 'winnings'
https://www.nation.co.ke/news/Betting-firms-licences-halted/1056-5188482-xqhnf2/index.html
https://www.businessdailyafrica.com/news/billion-from-SportPesa-and-Betin/539546-5160314-17qdki/index.html
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I think they will now innovate and definitely do everything online.You cannot legislate internet.They need to start PayPal or Skrill option like now.Something gov cannot illegally ignore.
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(https://lh3.googleusercontent.com/eIZCdy7CzMYini7bwpnsONXLhsxrra9_uKbBNkxMg_8qLYUcJkGH0vyGmx3L96_M2ciIePU9mkl4DGrja8IJ78BZsky5-A=s750)
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(https://lh3.googleusercontent.com/eIZCdy7CzMYini7bwpnsONXLhsxrra9_uKbBNkxMg_8qLYUcJkGH0vyGmx3L96_M2ciIePU9mkl4DGrja8IJ78BZsky5-A=s750)
Sportpesa refused to play ball and they are watching their cash cow cremated alive
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Hearing that Sportpesa is shutting. Pundito, could they be after Ruto’s ‘billions’?
https://www.businessdailyafrica.com/news/17-betting-firm-bosses-deported/539546-5198852-up0tj0z/index.html
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Ruto is against betting. Do not be surprised if he is one who originated this idea.
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I hear in Uganda they just moved to online and now they operate without paying taxes......do you think they can be done away with?
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I hear in Uganda they just moved to online and now they operate without paying taxes......do you think they can be done away with?
If they adopted other payment means outside CBK reach then they can simply relocate to Budapest or wherever. Get PayPal, Skrill,Neteller etc. they could restrict their advertising to social media; Youtube, Facebook and twirra. As long as they keep paying they will always enjoy idiots flocking in. But this would cut off say 40% of their customers who are still stuck with USSD codes
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It's possible to blacklist any site on the internet. Kung Fu style. Gambling ought to be criminalized just like narcos... besides the suicides of disillusioned losers, Macau and Las Vegas are infested with all kinds of sin least of all prostitution. To grow the sector fullthrottle you must allow other subsidiaries in the supply chain of lifism - recreational drugs, strip joints, circuses, adult films and prostitution. Narcos - Sicilian, Mexican and Hong Kong mafia - were very big headaches in them nascent betting economies. Basically start by turning a blind eye to Italian pervs who molest poor kids in Lamu... it's a slippery slope. What you have in Kenya at present is yet to be a budding industry. At its brim - the light-popping sort Pundit waters about - contend with a Red Light District wacha hio ya K-Street. You don't get to be a Macau by courting students and beggars.
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Pundit is it true the GoK crackdown is aimed at Ruto - who uses betting to launder his blood-loot.
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Ndii thinks it’s Ruto being taken to the cleaners
From this we can infer that the Government was quite happy to cozy up to the industry until the William Ruto takedown opened a Pandora’s box. Hitherto, it mattered not whether the betting business is a Sh20 billion or Sh200 billion business, whether it was evading taxes, fuelling a gambling epidemic, or even laundering money for drug lords, human and wildlife traffickers and terrorist networks. You can get away with all that, and even buy protection for all of that, just as long as you steer clear of the struggle for power.
Read more at: https://www.theeastafricanreview.info/op-eds/2019/08/06/war-games-the-truth-behind-the-governments-sudden-attack-on-the-sports-betting-industry/
E Review.
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So Ruto is everywhere :)
Ndii thinks it’s Ruto being taken to the cleaners
From this we can infer that the Government was quite happy to cozy up to the industry until the William Ruto takedown opened a Pandora’s box. Hitherto, it mattered not whether the betting business is a Sh20 billion or Sh200 billion business, whether it was evading taxes, fuelling a gambling epidemic, or even laundering money for drug lords, human and wildlife traffickers and terrorist networks. You can get away with all that, and even buy protection for all of that, just as long as you steer clear of the struggle for power.
Read more at: https://www.theeastafricanreview.info/op-eds/2019/08/06/war-games-the-truth-behind-the-governments-sudden-attack-on-the-sports-betting-industry/
E Review.
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OFFICIAL UPDATE ON THE ONGOING LICENSING PROCESS
Sportpesa has been engaging stakeholders on the current licensing issue. Our sessions with regulators and government are targeted towards creating a better understanding of the gaming industry with the view of creating a shared perspective on related regulation, including tax administration.
There has been notable progress in these sessions and we are pleased that Kenya Revenue Authority has now cleared us to have our license renewed. Sportpesa is confident that these processes will be completed soon allowing the company to resume full operations.
We recognise the support of our employees, customers and key stakeholders in this process and will be communicating soon on when we will be commencing operations. As Sportpesa, we reaffirm our commitment to supporting the government’s economic development agenda by operating as a law-abiding business that is committed to tax compliance.
Ends/.
For more information please contact care@sportpesa.co.ke
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Good.Cant kill a cash cow.Tax it.
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Sportpesa shuts Kenyan operations
https://www.nation.co.ke/news/Sportpesa-Betin-halt-operations-in-Kenya/1056-5290596-view-asAMP-tx1nrx/index.html?__twitter_impression=true
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Then you see Kenyatta Revenue Authority officers moving door to door 'checking on compliance' among dying micro business owners.
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very bad. Kenyatta has allowed Matiangi to messed around so much as he tries to build a warchest for 2022. The same way matiangi messed up the future of many kids by refusing to moderate exams.
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Here am with uhuru for doing the right thing by shutting down mafia owned/run gambling enterprises. These gambling companies are nothing but money laundering outfits. Good job Uhuru