The Jamaican cabinet has given approval for an amendment to the Betting, Gaming and Lotteries Act regulations to allow for the introduction of sports betting, and an increase in the tax burden of those benefiting from its introduction.
According to the government, the bill will introduce a 9% gross profit tax on sports betting offered by licensees, increasing taxation on bookmakers to 16.5% of gross profits. The decision was announced by a spokesman for the Office of the Prime Minister, Daryl Vaz, at a press briefing at Jamaica House on September 9.
The approval paves the way for the introduction of betting on overseas sporting matches on the island.
.
Network Tweets
Network BlogsContent
provided by
|
Archive | Resources | Partners | Site Map | Links | Newsletter Archive | Contact | RSS Feeds | About | Syndication | Advertising & Marketing | Recruitment | Terms & Conditions | Privacy & Cookies
Copyright © 2012 - All Rights Reserved - Tax-News.com
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