The Zambia Revenue Authority (ZRA) has set the record straight concerning the misleading statements related to taxes on gaming and betting sub-sector of the economy.
According to a statement issued by Zambia Revenue Authority
Corporate Communications Manager Topsy Sikalinda, the facts are that taxes on gaming and betting have been in existence since January 2014.
He said the last amendment was done in 2020 September by then, Minister of Finance on the floor of parliament as he presented the budget for the subsequent year.
“The taxes are paid at the rate of 20% of free money won and not on the total investment (a bet placed)” he has explained further.
Mr Sikalimda said the taxation of Gaming and Betting is contained in section sixty-four A of the Income Tax Act and the Income Tax (Betting and Gaming) (Presumptive Tax) Regulations of 2018.