Malta Tax Cuts In January
But not for the online sector…
According to local media reports in Malta over the weekend, cuts in value added tax on gambling come into effect in January…but do not extend to the online sector.
The Government Gazette informs that VAT will be lifted January 1 on gambling on the outcome of an event, including sports and the services of bookmakers and betting exchanges. Events on which betting and placing of wagers will be exempt include sporting events, both real life and virtual, competitions, lotteries, performance of an index and a natural phenomenon.
Lotteries and the government lotto remain exempt from VAT.
However, gambling on the outcome of casino-type tables games, and any game of chance where the outcome is determined by a random number generator are excluded from the exemptions, as is any gambling with the use of remote gaming equipment.
The tax changes follow a Council of Europe directive on the common system of VAT in the European Union. This directs that EU States may exempt from VAT “betting, lotteries and other forms of gambling subject to the conditions and limitations laid down by each Member State”.
Last year, Malta’s VAT revenue was just over Euro 0.7 billion, which translates to 7.3 percent of the country’s Gross Domestic Product.
More Malta Office Space For Live Dealer Provider
Authentic Gaming expands into new seafront offices in Selima
Live dealer games and technology provider Authentic Gaming has taken possession of its new and expanded office space on the seafront of the Malta town of Selima.
The company has gone from three employees when it was founded just two years ago to more than 30 designers, developers, engineers and technicians today, as well as a fast growing team of online dealers/presenters, necessitating increased office space and facilities.
Jonas Delin, CEO of Authentic Gaming, said: “We have enjoyed a rapid rise over a short space of time, and our new headquarters represent the scale and scope of the business today.
“The business continues to expand as we sign up new partners and operators, and broaden our product and service offering.”