Ruto eyes revenue boost in new 15 per cent excise on digital betting, alcoholic adverts
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President William Ruto. M-Pesa users, landlords and consumers are among the biggest losers in President Ruto’s Sh3.641 trillion budget that seeks to introduce new tax measures and end state-funded subsidies.
Digital advertising companies, including multinationals such as Facebook’s parent firm Meta and Google’s Alphabet, are set to take a hit in the new tax law assented to by President William Ruto following the ratification of a 15 percent excise duty on digital ads on alcoholic beverages and gambling activities.
The law, which comes just months after a proposal to introduce the same at a 20 percent rate was shot down in the collapsed Finance Bill 2024, is pegged on the shift of advertisements on alcoholic products, betting and prize competitions shifting to digital platforms following the introduction of a tax on the items on TVs, print media, billboards and radio stations.
