The treasury has calculated the tax payers money as they prepare for the next budget and found that there is a deficit of approximately 10% to the National budget proposal. The finance cabinet secretary Henry Rotich has today announced that some of the industries in Kenya will finance the deficit.
Finance cabinet secretary Henry Rotich emphasised on the passage of the bill that will make the government fill the gap in the national budget from the lucrative industries in the country. The bill was brought to the parliament by GEM MP Jakoyo Midiwo last month that will control all the entertainment industries.
The industries which the Finance cabinet secretary termed as Lucrative are; Gambling, Comedy, and Alcoholic. The treasury has to find some funds to finance the budget for 2017/2018. According to the treasury, the industries named above will pay more than 40% as their taxes starting from June this year.
That means Sportpesa, Betin, Betway, betika, supabet254, Pambazuka national lottery, Lotto, cheza cash, Tegua, Churchill, Keroche, EABL etc will find other ways of getting profit to fill the 40% increment in their taxes.
Kenyans who like betting and drinking alcohol will chip in more from their pockets to find leisure and luck starting from the coming June. The government has a national debt of about 2 trillion and this year they were to add another 900 billion for the completion of standard gauge railway and combating drought disaster in the country.
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