Betting License Renewal Notification Released by Kenya Revenue Authority

Betting License Renewal Notification Released by Kenya Revenue Authority

)Reminder from Kenya Revenue Authority: Betting Licenses Expiring Soon

Are you a licensed betting operator in Kenya on the 2024/2025 financial year's roll? Hold onto those pockets, mates! The Kenya Revenue Authority (KRA) calls your attention, asking that you tidy up your tax business pronto! Why, you ask? Because your betting license will run dry on the 30th of June 2025, and KRA wants to help you renew it as smooth as butter.

Now, what's this fresh catch of requirements from KRA? They're not asking for the moon, mates. Just these simple steps:

1. iTax Profile Update: Refresh your iTax profile with the latest details, including directors as per the CR12 form. This thing helps the KRA keep a keen eye on who's playing the betting game.
2. Location and Contact Info: 'Fess up your hideout! Provide your physical location and phone numbers so they can find you when needed.
3. Timely Tax Returns: Do your duty and file those tax returns for both the company and directors promptly. Don't make them hunt for 'em!
4. Settle Tax Liabilities: Don't leave any on the table—shine up your taxes to sparkle! Make sure everything is paid in full.
5. Tax Audit and Compliance Checks: Don't try to hide the truth—keep your records handy for the ongoing tax audits and compliance checks.
6. Tax Compliance Certificates: Obtain valid tax compliance certificates to showcase your good standing with KRA like a trophy.
7. KRA System Integration: Join KRA's game by integrating your systems with theirs. Keeps things tidy and the numbers flowing with regular tax remittances and data exchanges.
8. Paybill Number Approval: Clear the deck by ensuring all your paybill numbers are on KRA's good list.

Don't you worry about where to deliver your documents; KRA provides you with both physical and virtual options. Slip 'em in their lap at Ushuru Pension Plaza, Muthangari Drive, or shoot 'em over to the relationship managers' email addresses.

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1. In Kenya, take note that the expiration of casino and gambling licenses is approaching in the 2024/2025 financial year, specifically on the 30th of June 2025, as a reminder from the Kenya Revenue Authority (KRA).
2. If you're a licensed betting operator in Kenya, ensure that you renew your license by following KRA's requirements, such as updating your iTax profile, providing location and contact information, submitting timely tax returns, settling tax liabilities, complying with tax audits and checks, obtaining tax compliance certificates, integrating your systems with KRA's, and approving paybill numbers.
3. The Kenyan finance industry, including the casino-and-gambling sector, is undergoing renewal, prompting operators to comply with KRA's standards to maintain a smooth business flow and avoid penalties.
4. Fintech companies, being part of the gambling trends in Kenya, should be particularly mindful of these renewal procedures, ensuring seamless tax compliance andIntegrated systems with KRA for efficient remittances and data exchanges.
5. The integrated systems in the Kenyan gambling industry will foster transparency and trust, enabling the government to closely monitor the industry's financial and operational performance.
6. By adhering to these renewal requirements, licensed betting operators in Kenya can maintain their business's legitimacy, ensuring a stable and regulated environment for their customers—both locally and internationally.

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