Lirunex Hires AssetsFX’s Waleed Salah as Head of Sales MENA

South Africa could see online gaming by the end of 2014 according to bill proposal

by FMAdmin Someone
    South Africa could see online gaming by the end of 2014 according to bill proposal
    Join our Telegram channel

    A new bill is set to be introduced in South Africa on legalized internet gambling.

    The bill was drafted by South African MP Geordin Hill-Lewis, who plans to have it introduced with the coming months. Hill-Lewis serves as the shadow minister of trade and industry for the opposition Democratic Alliance party.

    A copy of the draft was obtained by eGamingReview. According to the draft, operators in South Africa will be required to apply for a separate license for each of South Africa’s 10 provinces, similar to Germany’s previous legislation and Austria. Licensing firms located in every province will carefully examine applicants who desire to offer services in their territory. While licensing will be done on a province by province basis, Hill-Lewis’ bill also calls for a national board to maintain consistent norms and standards for internet gaming in South Africa.

    On taxation, the bill proposes each province calculate its own rates. Experts in South Africa believe the taxation on internet gaming should be uniform to prevent provinces form undermining each other. A 6% tax on gross income, with 70% going to the province and the remainder to the country was suggested by gaming attorney Wayne Lurie.

    If the bill passes it will about 6 months until a regulatory standard is crafted. Wayne Lurie believes if licenses can be issues prior to the bill being regulated South Africa can have online gaming up and running before the end of 2014.

    Currently, only sport-betting is permitted in South Africa. Under the country’s 2008 National Gambling Act sport-betting is the only form of legalized gaming in South Africa.

    Source

    Image courtesy of Wikimedia

    A new bill is set to be introduced in South Africa on legalized internet gambling.

    The bill was drafted by South African MP Geordin Hill-Lewis, who plans to have it introduced with the coming months. Hill-Lewis serves as the shadow minister of trade and industry for the opposition Democratic Alliance party.

    A copy of the draft was obtained by eGamingReview. According to the draft, operators in South Africa will be required to apply for a separate license for each of South Africa’s 10 provinces, similar to Germany’s previous legislation and Austria. Licensing firms located in every province will carefully examine applicants who desire to offer services in their territory. While licensing will be done on a province by province basis, Hill-Lewis’ bill also calls for a national board to maintain consistent norms and standards for internet gaming in South Africa.

    On taxation, the bill proposes each province calculate its own rates. Experts in South Africa believe the taxation on internet gaming should be uniform to prevent provinces form undermining each other. A 6% tax on gross income, with 70% going to the province and the remainder to the country was suggested by gaming attorney Wayne Lurie.

    If the bill passes it will about 6 months until a regulatory standard is crafted. Wayne Lurie believes if licenses can be issues prior to the bill being regulated South Africa can have online gaming up and running before the end of 2014.

    Currently, only sport-betting is permitted in South Africa. Under the country’s 2008 National Gambling Act sport-betting is the only form of legalized gaming in South Africa.

    Source

    Image courtesy of Wikimedia

    !"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|} !"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|}