Interactive Gaming License
- Interactive Gaming is administered under Act No. 16 of 2000.
- It is a form of gambling played through means of the internet for the purpose of win or gain.
- The Director of Customs and Inland Revenue is the Regulator under the Act
- The Regulator is assisted by Global Gaming Regulators Limited (GGR), the appointed government consultant, in administering the Act. (Click here to access address: http://www.gamingregulator.com).
Procedure in obtaining an Interactive Gaming License:
- Submit application to GGR
- GGR verify application
- GGR Forward application with recommendations to the Minister of Finance.
- Based on these recommendations, the Minister grants or rejects the application and advises the applicant accordingly.
- The Minister of Finance is to determine the term of license in consultation with the Regulator but limited only to 15 yrs
Interactive Gaming Duty:
- An interactive gaming license is subject to lodge and pay interactive gaming tax on a monthly basis as stipulated in the Act.
- Tax under section 30 of the act – 2.5% of the Gross Profit
- Tax on sports book fixed odds wagering – 0.1% of Gross Turnover
- Interactive Gaming Tax is payable on or before the last working day of the following month.
- Annual License Fees are payable on December 31st, the year following issue of license.
- Penalty fee: 10% for the unpaid amount. Plus a further 2% for each month or part of a month during which the unpaid amount is unpaid.