Wednesday, September 22, 2021

Tag: Tax

Trinidad and Tobago modernise market with Gambling Control Bill

Trinidad and Tobago Gambling tax bill
After six years of “filibustering” by an incorrigible opposition bloc in the senate, Trinidad and Tobago has passed a new bill that will raise gambling taxes 6-fold - and potentially pave the way for igaming licences through a new regulator.

POGO’s set for tax hike after presidential intervention

Philippines tax Rodrigo Duterte
Despite heavy opposition, the Philippines’ president, Rodrigo Duterte, urges lawmakers to rush through a bill to add taxes to the online gambling sector and its employees - in a bid for billions in extra tax pesos that could fund the covid recovery.

Kenya’s 20 percent excise duty makes a come back

Kenya regulation tax excise duty on betting
Kenya’s treasury has reintroduced the controversial 20 percent tax on wagers, which caused furore among the nation’s operators in 2019, via its 2021 Finance Bill.

Sportpesa’s international footing in doubt as UK agents resign

Sportpesa
As Sportpesa remains mired in legal challenges over the potential mismanagement of corporate funds at home, it fails to submit its financial returns by the end of 2020 deadline in the Isle of Man - where two key service providers have now cut their ties

Towards a Point of Consumption Tax in the federal US

US Australia Point of consumption tax
Reviewing the success of the Point of Consumption Tax model adopted across federal states in Australia - Senet’s David Rayment asks whether 21st century might also be applied in the US.

Colombia sees online gaming revenues soar in 2019

Colombia taxation
Colombia’s online gambling tax-take more than doubled last year, Coljuegos has reported, with treasury takings soaring by around 106 percent year-on-year to $19.6m (€17.7m).

French senate votes to end stringent turnover tax

French senate votes on turnover tax
France’s senate have agreed to do away with the highly controversial tax on turnover - in place of the more normative gross gaming revenues levy.

Philippines committee passes POGO tax despite regulator warnings

Philippines POGO tax
A Philippine House Ways and Means Committee has passed the proposed five percent tax on offshore gaming income, after the regulator warned it could..

Kenyan tax ruling puts Sportpesa back in play

Sportpesa Kenyan Tax
Yet another twist in the Kenyan saga sees an appeals tribunal rule in favour of the ousted bookmakers, Sportpesa and Betin, over the controversial..

Sportpesa, Betin exit Kenyan saga citing ‘hostile’ environment

sportpesa kenya betin
Kenya’s leading bookmakers, Sportpesa and Betin, both close down operations in the market after MPs vote to add a 20 percent tax on stakes - on top of the..

Irish bookies to get E50,000 tax relief

Paschal Donohoe Minister for Finance tax relief Ireland
Bookmakers in Ireland will be eligible for up to E50,000-a-year relief from the controversial two percent levy on turnover introduced earlier this year.

Kenyan football dragged into tax disputes as Sportpesa pulls sponsorships

As tax disputes between between the Kenyan government and gambling companies drag on, so too is the country’s football league getting dragged down..

The changing taxation landscape for betting and gaming

Changing tax landscape Irena Scullion
Global tax systems have traditionally struggled with the online gaming industry, writes Irena Scullion, Indirect Tax specialist in EY’s Betting and Gaming..

Kenyan government announces fresh assault on betting industry

Kenyan betting tax
Kenya’s prime minister is attempting to forge ahead with a three-pronged attack on gambling that includes hefty taxes levied on operators, sweeping..

Portugal mulls tax with committee appointment

Portugal, mulls, tax, committee, appointment
With a multi-ministry government committee given until 27 February to deliver its findings on the prohibitive Portuguese online sports betting tax, gaming lawyer Joao Alfredo Afonso predicts change, although opposition within the committee itself may be the…

SPiCE: Alderney eGambling’s Susan O’Leary talks business

Spice, Alderney eGambling, Susan O Leary, interview, tax, gambling
Susan O’Leary is the CEO of Alderney eGambling, the Alderney regulator’s strategic and development body. As a lawyer, she represented some of the world’s leading eGambling operators and gambling service providers including many of Alderney’s licensees. She has ...

Is Bitcoin a currency?

Bitcoic, cryptocurrency, VAT, Gregory Price, tax
Gregory Price, tax consultant at Macfarlanes, summarises the HMRC’s latest opinion on cryptocurrencies: still a shapeshifting anomaly for tax, gambling and VAT. It depends why you are asking. For VAT purposes, transactions in cryptocurrencies…

UK online sector relieved at six percent tax hike

UK, online sector, politics, tax
The UK sector narrowly dodged a double dose of bad news in the autumn budget as chancellor Philip Hammond opts for a more reasonable rate rise than many had feared - and will delay the new FOBT machine stake until October 2019. The UK treasury has announced a rise…

Donohoe claims “social cost” of gambling as backing for tax increase

IRELAND, TAXATION, society, tax,
Paschal Donohoe has defended his controversial doubling of Irish betting tax in the 2019 Budget announced last month. The finance minister stated that the increase, which is predicted to cause significant damage to small independent operators, is designed to address consumer

Irish retail faces nationwide closures as tax take doubles

IRELAND, TAX, IBA, bookmakers
Following the announcement of an increased two percent tax rate for gambling operators in October, the IBA has rallied its members to fight the catastrophic effect on independent retail bookmakers – but the government’s inertia on reform may prove insurmountable.

UK Treasury poised to deliver ‘drastic’ online tax rise

Tax hike treasury
The UK treasury is preparing to announce a rise in online taxes, when it delivers the autumn budget next week – that could see liabilities increase by ten percent. The rise is being devised to compensate for lost tax receipts after the controversial cut in

Kenyan authorities propose tax relief as film board plans bans

IGT WEBSITE KENYA-1
Kenya’s National Finance and Planning committee has recommended a reduction in tax for gambling operators as part of an appraisal of the Finance Bill 2018. Originally proposed in June as part of the Tax Laws (Amendment) Bill 2018, the committee has endorsed a reduction of the 35 percent tax rate imposed by president Uh

Swiss voters back online restrictions in public referendum

Casino Review Swiss Switzerland
Swiss voters have endorsed a new gambling law blocking foreign online operators, after a referendum returned a results of 72.9 percent in favour. Organised by several political party youth groups, the referendum was designed to overturn the law…

Puerto Rico looks to igaming and sports betting for fiscal relief

Puerto-Rico
The director of Puerto Rico’s gaming regulator, Jaime Alex Irizarry, has lent his backing to a new proposal to allow the territory’s casinos to run online gaming operations. Puerto Rico’s Commission for Tourism and Social Welfare is analysing a new bill which would…

Belarus proposes online legalisation in draft decree

Minsk, Belarus
The government of Belarus has prepared a draft decree to legalise, licence and tax online gambling. The proposal, submitted by head of the country’s Ministry of Taxes and Levies, Sergei Nalivaiko, also includes a motion to raise the legal gambling age from 18 to 21.

Spanish government slashes online gambling tax by one fifth

Spanish flag
The Spanish government has announced a five percent tax reduction for online operators, setting the figure at 20 percent of gross gaming revenue. The amendment, included in the House of Deputies 2018 budget breakdown, follows a 27 percent year-on-year increase …

Kenya’s beleaguered betting market still proves lucrative investment

IGT 167 AFRICA KENYA
A study by the Capital Markets Authority has stated that Kenyan investors are shunning traditional long-term return prospects in favour of the country’s rapidly growing sports betting market. The autonomous regulatory body compiled the Low…

Kenya rejects hybrid tax system, upholds 35 percent regime

Nairobi
Controversial proposals for a betting tax cut to 15 percent - supplemented by a 20 percent tax on winnings - appeared to offer some hope to struggling firms. Having now been rejected by legislators, Toddy Thairu, tax manager at KPMG Kenya, argues that the industry…

Spain supports online market, considers own offshore jurisdiction

Spain bull run
2018 has already seen a flurry of activity from both the Spanish government and its regulator, aimed at raising its appeal to the igaming industry. A full year licensing window is now open, a potential betting tax cut is in the wings, and consultation has begun…

SportPesa told Kenyan tax hike ‘non-negotiable’

sportpesa kenya
The fallout from Kenya’s new 35 percent gambling tax continued in January, with the Pambazuka National Lottery suspending operations, and resident betting giant SportPesa accused of blackmailing the government by withdrawing sponsorship from local sport. SportPesa has reiterated its vow to continue appealing the new tax, which PwC says is the highest in the region. However, deputy prime minister William...

STAY CONNECTED

171FansLike
501FollowersFollow

SECTOR NEWS