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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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