New Gaming Licence Fee
The Malta Gaming Authority (MGA) has just put into effect the new Gaming Licence Fee Regulations that have been altered through the publication of Legal Notice 409 of 2017. The new regulations will become active as of 1 January 2018. Nevertheless, an interim period is anticipated by which current licensees shall continue paying in conformity with the existing Remote Gaming Regulations until 30 June 2018. During this interim period, new licensees will conform to the conditions of the New Gaming Licence Fee Regulations. As of 1 July 2018, all gaming licence fees should be paid according to the new regulations. The new gaming licence fee regulations shall be in full effect as of 1 January 2019.
The discrepancy between what was outstanding for the first half of 2018 (in accordance with the current fiscal system) and the second half of the year under the new regulations will be calculated. Tax credits equal to the extra amount paid will be given to licensees who would have paid more than what was due. On the other hand, licensees that have paid less under the New Licence Fee Regulations shall pay the outstanding amount accrued by 20th October 2018.
The New Gaming Law aims to raise further the jurisdictional profile of Malta from a regulatory perspective and empowering the MGA to be more agile and flexible in its decision-making. The New Regulation implements a risk-based approach towards regulation. It aims to incentivise key areas for continued growth, streamline processes and decrease unnecessary regulatory burdens. Furthermore, The Gaming Law intends on enhancing player protection while enhancing compliance and regulatory supervision which in turn will widen the MGA’s powers in this regard.
In addition, under the New Licence Fees Regulations, Class 4 licensees (B2B) will no longer be required to pay a monthly gaming tax for every licensed operator they supply in an EEA jurisdiction (any other state than Malta) or any other jurisdiction approved by the Malta Gaming Authority., Class 4 licensees will receive a tax credit for the excess dues they incurred due to the provisions of the New Gaming Licence Fee Regulations during the interim period.
The New Gaming Law proposes to regulate land-based and online gaming including skill gaming.
New Gaming Licence Fee
The Malta Gaming Authority (MGA) has just put into effect the new Gaming Licence Fee Regulations that have been altered through the publication of Legal Notice 409 of 2017. The new regulations will become active as of 1 January 2018. Nevertheless, an interim period is anticipated by which current licensees shall continue paying in conformity with the existing Remote Gaming Regulations until 30 June 2018. During this interim period, new licensees will conform to the conditions of the New Gaming Licence Fee Regulations. As of 1 July 2018, all gaming licence fees should be paid according to the new regulations. The new gaming licence fee regulations shall be in full effect as of 1 January 2019.
The discrepancy between what was outstanding for the first half of 2018 (in accordance with the current fiscal system) and the second half of the year under the new regulations will be calculated. Tax credits equal to the extra amount paid will be given to licensees who would have paid more than what was due. On the other hand, licensees that have paid less under the New Licence Fee Regulations shall pay the outstanding amount accrued by 20th October 2018.
The New Gaming Law aims to raise further the jurisdictional profile of Malta from a regulatory perspective and empowering the MGA to be more agile and flexible in its decision-making. The New Regulation implements a risk-based approach towards regulation. It aims to incentivise key areas for continued growth, streamline processes and decrease unnecessary regulatory burdens. Furthermore, The Gaming Law intends on enhancing player protection while enhancing compliance and regulatory supervision which in turn will widen the MGA’s powers in this regard.
In addition, under the New Licence Fees Regulations, Class 4 licensees (B2B) will no longer be required to pay a monthly gaming tax for every licensed operator they supply in an EEA jurisdiction (any other state than Malta) or any other jurisdiction approved by the Malta Gaming Authority., Class 4 licensees will receive a tax credit for the excess dues they incurred due to the provisions of the New Gaming Licence Fee Regulations during the interim period.
The New Gaming Law proposes to regulate land-based and online gaming including skill gaming.