What’s the day that has everybody giddy with joy? That’s right, it’s Pay Day – and we have it condensed down to a vibrant and colourful online slot experience! First up are the Pay Day prizes, six of which can be claimed according to how many Pay Day symbols are present on the reels – the more Pay Day symbols in view at the same time, the bigger the player’s pay day! On top of that there are also loads of Free Games to be won in this slot, which always has a x3 win multiplier attached. Players should get ready for a pay day unlike any other!
How Casino Tax works
The Kenya Revenue Authority introduced the new Finance Act (2021) in July 2021 which updated the tax duties payable on gaming products. By law, the KRA requires customers of gaming to pay both an excise tax on gaming stakes and withholding tax on winnings.
On Casino slots, an excise tax of 7.5% is added to stakes. How this works: When you play your stake amount on a particular spin, the stake amount is deducted from your balance along with an additional 7.5% of the stake amount. The excise tax is represented by this 7.5% additional charge on top of the stake. For example, if you spin a slot with a stake of KSH 100, then the full amount deducted from your balance will be KSH 107.5.
Withholding tax is applied to winnings at a rate of 20%. This is applied to the customer's 'pure winnings', meaning the 20% tax is only applied to the winnings amount and not to the full payout amount (winnings plus stake). For example, if you spin 50 and win KSH 300, your un-taxed payout amount would be KSH 350. The 20% Withholding tax is applied to just the KSH 300 winnings portion. 20% of the winnings amount (KSH 60) is taken in tax owed to the KRA and so the net winnings amount payable is KSH 240. Adding your stake return, the total payout amount returned to you would amount to KSH 290.
The Kenya Revenue Authority introduced the new Finance Act (2021) in July 2021 which updated the tax duties payable on gaming products. By law, the KRA requires customers of gaming to pay both an excise tax on gaming stakes and withholding tax on winnings.
On Casino slots, an excise tax of 7.5% is added to stakes. How this works: When you play your stake amount on a particular spin, the stake amount is deducted from your balance along with an additional 7.5% of the stake amount. The excise tax is represented by this 7.5% additional charge on top of the stake. For example, if you spin a slot with a stake of KSH 100, then the full amount deducted from your balance will be KSH 107.5.
Withholding tax is applied to winnings at a rate of 20%. This is applied to the customer's 'pure winnings', meaning the 20% tax is only applied to the winnings amount and not to the full payout amount (winnings plus stake). For example, if you spin 50 and win KSH 300, your un-taxed payout amount would be KSH 350. The 20% Withholding tax is applied to just the KSH 300 winnings portion. 20% of the winnings amount (KSH 60) is taken in tax owed to the KRA and so the net winnings amount payable is KSH 240. Adding your stake return, the total payout amount returned to you would amount to KSH 290.