Betting companies are under declaring taxes to Government
The National Gaming Board Uganda (NGBU) wants Shs6.4bn to procure the gaming central monitoring system to detect the gaming companies which under declare their earnings to Government.
The revelation was made by NGBU e Ag.Executive Director Janet Namuli while appearing before Parliament’s Finance Committee chaired by Rubanda East MP, Henry Musisazi .
Namuli said that if the gaming monitoring system is procured, Government will increase its tax collection from the betting and gaming companies from the current Shs45bn up to Shs70bn.
Denis Mudene Ngabirano, the IT Manager at the National Gaming Board Uganda said that in the financial audit carried out in the financial year 2081/19, it was detected that gaming companies are under declaring taxes to Uganda Revenue Authority (URA).
Officials from the Gaming Board further told the committee that they are strictly inspecting the betting and casino points to ensure that youth don’t participate in betting as required by law.
The National Gaming Board Uganda under section 4 of the Lotteries and Gaming Act, 2016 is mandated to issue licenses for Lotteries, Casinos, Gaming and Betting in Uganda. The mandate includes Licensing, Supervision, Enforcement and dispute resolution.
The Board has powers to conduct investigation, examination, inspection and issue guidelines, directives or instructions for the proper management of the industry.
