ChezaCash will charge you Excise tax as well as Withholding tax.Those are the two taxes for gamblers.
Excise Tax
Excise tax is tax applied on the stake.
Any stake amount shall be subjected to a deduction of 7.5% as required by the governing laws in Kenya.
Example:
If you stake Kshs 500 with Chezacash, your net stake (Stake after tax) will be Ksh 462.5
Withholding Tax
Withholding Tax is a tax imposed on any returns obtained through betting.
Chezacash will also apply taxes on all winnings as stipulated by Betting Control and Licensing Board (BCLB) in Kenya.
The withholding tax percentage to be deducted is 20% as per the tax rate prescribed by the Government of Kenya.
The deduction will be made from the total payout (Winnings-Stake)
Example:
If you stake Ksh 500 and total odds is 3 your final payout will be as illustrated below:
| ODDS | 3.00 |
| GROSS STAKE | 500 |
| EXCISE TAX | 37.5 |
| NET STAKE | 462.5 |
| POSSIBLE WIN | 1387.5 |
| WITHHOLDING TAX | 185 |
| PAYOUT | 1202.5 |
