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Most Recent Online Casino News
High UK Gaming Tax Marks an Exodus to Malta
Following the issue of the UK gambling bill last year, it has become
evident that the proposed high tax of 15% on gross profit will scare
away a number of offshore operators.
This would open up unlimited opportunities for Malta being the only
EU country that last April has issued remote gaming licences. Until
recently, Malta's legislation only allowed online betting offices to
operate. This has changed when last April, the Malta Lotteries and
Gaming Authority has revised the regulations whereby other gaming
activities including online casinos, casino-style games, cyber
poker/bingo rooms, betting exchanges and lotteries could be allowed
after an application is submitted and a license is granted. On average
the tax on such licences is quite competitive with other jurisdictions.
Malta charges 0.5% betting tax on turnover and a monthly charge of
Lm3,000 ( Lm1= $3.10 -Jan 2005 ) for a class 1 gaming license on a five
year renewable licence. This is capped at this rate irrespective of the
turnover. A one-time non-refundable application fee of Lm1,000 is
payable and the annual licence costs Lm3,000. The Authority has
announced the remote Gaming Regulations 2004 by offering four classes of
Remote Gaming Licenses;
Read the
entire article at: Mondaq
2004 Online Casino News Archive
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