South Africa's Minister of Finance, Trevor Manuel, has released for comment the Interactive Gambling Tax Bill, which proposes to give effect to the taxation of interactive gambling activities.
The bill released by Manuel on Thursday provides for the imposition of a "special tax" on operators with an interactive gambling site in South Africa. The tax base will fall upon gross gambling revenue.
The tax is provided for in the National Gambling Amendment Bill, which was passed by the National Assembly on May 16, 2008. According to the government, this legislation seeks to ensure stronger regulatory oversight of interactive gambling, "as opposed to it remaining in the hands of offshore jurisdictions, with little or no protection for local consumers."
The Interactive Gambling Tax Bill will be tabled in Parliament during the first half of 2009. Comments on the legislative proposals must be sent to the Treasury before March 1, 2009.
.
Network Tweets Archive
| Resources | Partners
| Site Map | Links
| Newsletter
Archive | Contact
| RSS Feeds
About | Syndication |
Advertising & Marketing |
Recruitment |
Terms & Conditions |
Privacy
Copyright © 2012 - All Rights Reserved - Tax-News.com
All content provided by BSI Media
IMPORTANT NOTICE: Tax-News.com has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments.
Write a comment