Compliance Updates
Georgia Increases Taxes on Gambling Business
On November 3, the Prime Minister of Georgia, Irakli Garibashvili, announced at the government meeting that the profit tax for the gambling business will be increased from the current 10% to 15%.
There will also be a change regarding the withdrawal of money. In particular, the citizen will pay 5% instead of 2% of the income when withdrawing the won amount.
“We presented a new initiative to the parliamentary majority, according to which we should change the taxation rate of gaming business. Under the new initiative, gaming businesses will be taxed at a rate of 15% of profits, instead of the current 10%. And withdrawals from gaming businesses will be taxed at 5% instead of the current 2%.
On the one hand, I want to express surprise, and on the other hand, it is very sad that the turnover of the game business is increasing. I’m really not happy because too many citizens are still involved in the gaming business. For information, I would like to tell you that in 2022, the total turnover of gaming business increased from 48 billion GEL to 52 billion GEL, which is a catastrophic indicator. So many people are still involved in the gaming business.
Last year we made important changes when we banned advertising and also restricted the right to play to citizens under 25 years of age. The ban automatically affected 1 million 500 thousand citizens,” Irakli Garibashvili said at the government meeting.
According to the Prime Minister, as a result of the changes, an additional 400 million GEL will be added to the budget.
Compliance Updates
Department of Trust set to meet challenges of new affordability checks
Department of Trust (dotrust.co.uk), the award-winning provider of financial risk assessments for safer gambling is poised to meet the challenges of the newly announced regulations on frictionless financial checks by the UK Gambling Commission and Betting and Gaming Council.
Under the new rules published by the Gambling Commission, operators have until August 30th to implement frictionless checks on all customers making £500 net deposits in any rolling 30-day period. These frictionless checks form part of a new regime designed to protect players at risk of financial harm and replace the current ad hoc approach to affordability checks.
Department of Trust also welcomes the interim voluntary code published today by the Betting and Gaming Council (BGC), the standards body representing over 90% of UK-regulated market operators. This code focuses on how responsible operators should support customers spending above the lower threshold set out by the Gambling Commission.
The supplier’s DoTrust Complete solution offers an integrated suite of frictionless and enhanced financial risk checks with a high level of automation capability -the only such tool built solely for safer gambling – and is perfectly positioned to help businesses navigate the newly regulated waters.
Charles Cohen, CEO of Department of Trust, said: “These important announcements flag the end of gambling’s ‘sus law’ where players faced seemingly arbitrary requests for personal information, operators were placed under a significant burden, and no one won
“We now know that in 120 days, every operator will need to perform frictionless checks on all players with net deposits in a 30-day rolling period of £500. A few months later this will fall to a much lower level.
“If operators want to protect their business, keep their customers and reduce costs, smart automation is the only answer.
“Department of Trust has spent over two years building the leading plug-and-play solution specifically for the gambling industry. Complete already automates over 90% of the processes required in both the new LCCP and BGC code. Now we know what the requirement will be, we are today committing to the goal of 100%. We want every operator and player to have instant assessments and sensible decisions cost-effectively. No one needs to lose sleep over this.”.
Asia
Uzbekistan Legalises Online Betting and Lotteries
President of Uzbekistan Shavkat Mirziyoyev has signed a decree on April 19 titled “On Measures to Improve the Regulation of the Organization and Conduct of Lotteries and Risk-Based Games in the Republic of Uzbekistan”. The document abolishes the ban starting from January 1, 2025, and introduces a legal framework for the organisation of risk-based games online and betting activities.
The issue of legalising betting activities has been a long-standing topic in Uzbekistan. In December 2019, the president signed a decree to legalise bookmakers, but this decision was revised in April 2022. In April 2023, the head of state instructed the development of a regulatory framework for betting activities.
The National Agency for Advanced Projects (NAAP), the authorised state body for regulating and licensing activities in this sector, provided insights on the necessity of introducing state regulation in the gambling sector in Uzbekistan. The agency emphasised the need to prevent illegal gambling businesses, protect players’ rights and generate additional income for the state budget.
The president’s decree aims to introduce advanced foreign experience and modern technologies in regulating the organisation of risk-based games and lotteries to increase investment attractiveness, tourist potential and attract additional funds to the country.
The measures outlined in the decree include the creation of legal foundations for the legalisation of activities related to risk-based games online, betting activities, and lotteries, implementation of mechanisms to protect citizens’ rights and interests, prevention of gambling addiction and the generation of additional state budget revenue.
Starting from January 1, 2025, a taxation system will be introduced for license holders, where organisers of online games, betting activities and lotteries will pay a turnover tax. This system aims to prevent the concealment of taxable revenue and is expected to generate additional tax revenues for the state budget.
Overall, the implementation of the decree is intended to establish a reliable foundation for the legal regulation of activities related to organising risk-based games online, betting activities and lotteries in Uzbekistan, protect citizens’ interests, combat gambling addiction and provide additional sources of income for the state budget.
Compliance Updates
IAGR & IMGL Open Ticket Sales for 2024 Conference in Rome
The International Association of Gaming Regulators (IAGR) has opened registrations for its annual conference, taking place in Rome, Italy, from October 21 to 24.
With the theme Navigating the Future of Gaming Regulation in a Transforming World, this year’s event is a partnership with the International Masters of Gaming Law (IMGL).
“IAGR and IMGL’s Rome conference is a four-day event that brings together regulators, industry thought leaders and experts to share ideas and shape the future of gaming regulation across the world,” the President for the IAGR, Ben Haden, said.
The conference follows last year’s event in Gaborone, Botswana, which brought together the largest number of attendees in IAGR’s history.
“This year, participants can look forward to diving into themes that are at the forefront of the gaming regulation landscape including advancements in technology, the evolving regulatory challenges and strategies for future-proofing the global gaming industry,” Haden said. “In an era where technology is rewriting the rules of our industry, the question isn’t whether to adapt, but how swiftly we can. IAGR 2024 is about coming together as a global community to not only keep pace with change but to drive it.”
Confirmed speakers will be announced from May.
Conference highlights:
- Expert-led sessions and panel discussions on the latest in gaming regulation
- Joint conference sessions and events with IMGL, providing further networking and knowledge-sharing opportunities
- Networking events set in the heart of Rome including an opening reception and gala dinner featuring the International Regulatory Awards ceremony
Early-bird pricing is available until July 31 with super-early bird prices available until May 31. Head to the IAGR website for more details and ticket sales.
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