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Message: [QUOTE="Nehanda, post: 30602, member: 2262"] Uganda plans to shake up the betting industry with new tax laws. The government just brought forward a bill that wants to make tracking money easier. Finance Minister Matia Kasaija put the Tax Procedures Code Amendment Bill before lawmakers last month. This fresh approach aims to catch more tax dollars from the fast-growing gambling market. The biggest change? Everyone must pay through one central system. Betting companies can only take bets and pay winners using this government-approved payment gateway. The Bank of Uganda will license this system, and tax officials will watch every transaction. Companies that ignore these rules face huge fines - either double their normal tax bill or a massive penalty, whichever costs more. These changes come as gambling tax targets rise. The National Lotteries and Gaming Board expects to collect 300 billion Shillings this year. Their boss, Denis Mudende, says they're connecting many gambling operators to their central tracking system. This helps them see daily transactions and ensures companies report their true income. Uganda already tracks mobile money pretty closely. Since 2016, they've used special computer systems to monitor gambling payments. These programs helped tax collectors see exactly what happens with phone-based bets, which make up 92% of online gambling. The results speak for themselves - tax money jumped from $5 million to $26 million. Between 2021 and 2022, gaming tax revenue shot up by more than 300%. The government shows no signs of slowing down this digital push. They want agencies to work together and share information instantly. As Uganda's gambling industry keeps growing, these new tax rules will play a big part in how the country collects money. The changes represent a major step forward in Uganda's plans to track money moves across the digital economy. [/QUOTE]

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