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Government Of Uganda To Increase Tax On Betting

Published: 2023-04-06T01:44:02Z -1,746 People Read This

Uganda's Ministry of Finance proposes 10 percent increase in gaming and lotteries tax

The Lotteries and Gaming (Amendment) Bill, 2023 has been proposed by the Ministry of Finance in Uganda to amend the Lotteries and Gaming Act, 2016.

The proposed amendment seeks to increase the tax rate on gaming activities from 20 percent to 30 percent. This increase in tax rate is expected to have a significant impact on the gaming industry, but it is also expected to generate more revenue.

The Bill is currently under consideration by Parliament, which has invited stakeholders and other interested parties to submit their views. If passed, the Bill is expected to take effect on July 1.

The gaming industry in Uganda has experienced significant growth in recent years due to the popularity of sports betting and online gambling.

The Uganda Revenue Authority has reported an increase in tax collected from casinos, resulting in a significant increase in revenue attributed to gaming tax arrears recovery.

On the contrary, some critics argue that the gaming industry has negative social and economic consequences, particularly for vulnerable populations.

Those in favor of the proposed increase in gaming tax argue that the additional funds generated can be used for social programs and initiatives to mitigate the negative effects.

However, some stakeholders are concerned that the increment will harm the gaming industry and discourage investors.

Despite this, the lotteries and gaming industry is expected to continue expanding in the future due to increased access to mobile technology and rising disposable income levels among the population in Uganda

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