Browsing: Tanzania Sports Betting Association

Taxing cash prize winners in Tanzania`s gaming industry is not only inadvertently hurting its rapid growth, but also restraining and stifling its potential.

Innovation and competition have elevated the gaming industry`s offerings and drive more inclusivity among a broader range of audiences, contributing substantially to the economy.

In the 2017/2018 fiscal year alone, the industry contributed Tshs.3.4 trillion ($1.4 billion) to the national economy which is an equivalent of over 3 per cent of the Gross Domestic Product (GDP), official data from the Tanzania Gaming Board (TGB) indicates.

The Tanzania Sports Betting Association (TSBA) statement issued last week stated that taxing cash prize winners is not only hurting the impressive growth, but also restraining the industry`s considerable potential.

The association further stated that despite the industry`s massive contribution, there are concerns over the government`s approach of taxing sports betting which is hurting and inhibiting the industry`s massive potential for growth.…