Connect with us
SOFTSWISS

Africa

Nigeria adopts pioneering system to collect taxes directly and in ‘real time’ from online transactions

Published

on

Nigeria adopts pioneering system to collect taxes directly and in ‘real time’ from online transactions
Reading Time: 2 minutes

 

The Federal Inland Revenue Service of Nigeria (FIRS) has signed an agreement with UK based Fintech company E-Technologies Global Limited, to help it modernise its tax collection system for the digital age.

The project is the first of its kind where a pioneering approach to tax collection, enforcement and monitoring is being implemented as a managed service through E-Tech’s Sentinal National Payment Gateway. Sentinal is a unique transaction processing system that instructs integrated payment service providers to deduct taxes or charges at the point of transaction and remits funds in real-time to Governments’ Treasury accounts.

The project with Nigeria starts with the launch of a new initiative by the National Lottery Regulatory Commission of Nigeria to attract ‘Tier 1’ offshore global gaming operators to apply for a five year Permit to offer all gaming and sports-betting services to Nigerian players. Operators must comply with full risk-based AML screening and pass the ‘fit and proper’ test to demonstrate responsible gaming practices before being granted a Remote Operator Permit.

All approved operators will then connect to Sentinal where gaming duty will be deducted from player deposits and remitted directly to the Government in real-time. The Permit has the advantage of allowing global operators to legitimately offer online gaming services to Nigerian players without the need to incorporate locally in-country and is subject to their continuing compliance with the Permit Terms and Conditions.

Mohammad Nami, Executive Chairman of the Federal Inland Revenue Service of Nigeria, said: “The world is entering a challenging time where there is a strong obligation on Governments to increase tax revenue as a percentage of GDP so as to provide much needed funding for local infrastructure and public services. Nigeria needs to innovate and harness technology to ensure that online transactions are taxed and accounted for.

“We have been very impressed with the Sentinal System which allows us to not only collect tax revenues at source, but also provides us with tax reporting and monitoring tools in real-time. The system will integrate with our own TaxPro Max portal.”

Lanre Gbajabiamila, Director General of the National Lottery Regulatory Commission of Nigeria, added: “Online gaming continues to grow rapidly in Nigeria, particularly on mobile, and the adoption of E-Technologies’ Sentinal National Payment Gateway is a huge step to allow us to capture gaming duty at source.

“We are welcoming all responsible offshore gaming operators to apply for a Remote Operator Permit as long as they pass all the relevant criteria including full AML screening and responsible gaming practices. We are proud to be the first country to adopt the Sentinal System and we believe it will bring a real national benefit to Nigeria.”

David Kicks, CEO of E-Technologies Global Limited, said: “Governments in rapidly developing nations are struggling to keep pace with the evolution of eCommerce and the ascent of mobile transactions. E-Technologies was created specifically to address this issue and we have built an incredibly strong team with unrivalled expertise across fintech, eCommerce and iGaming.

“We are thrilled that the Nigerian Government has made the decision to integrate our Sentinal System, empowering them to streamline online taxation. By understanding better how the payments ecosystem behaves and evolves, we can drive a paradigm shift towards a point of consumption tax methodology.

“This landmark deal will herald a new era in rapidly opening new regulated markets for responsible gaming operators, as grey market operating becomes increasingly problematic.”

Africa

CSA Appoints IMG ARENA as Official Data Supplier and Betting Live Streaming Partner

Published

on

Reading Time: < 1 minute

 

Cricket South Africa (CSA) announced IMG ARENA, OpenBet’s sports data and streaming products arm, as its exclusive official Cricket South Africa Data Supplier and Betting Live Streaming Partner.

IMG ARENA, in partnership with CricViz, will collect detailed data, both live and in-venue, for CSA’s domestic and international matches spanning a wide array of competitions, from bilateral series to domestic leagues.

Data for international matches will be gathered across Men’s and Women’s Test, ODI, and T20I formats, while domestic matches will see data collection for Men’s 4-day, 50 Over and T20, as well as the Women’s 50 Over and T20 formats. The data will then be distributed by IMG ARENA to more than 460 regulated sportsbook operators worldwide. IMG ARENA will also distribute live streams of CSA matches to the global betting industry.

Mark Wrigley, Vice President & Head of Rights at IMG ARENA, said: “IMG ARENA is serving fans and sportsbook operators across a wide breadth of sports and markets around the world. Alongside CricViz, we’re excited to partner with Cricket South Africa to bring fans the ultimate sportsbook experience incorporating reliable, informed data and live streaming.”

CSA Chief Executive Officer, Pholetsi Moseki, said: “Our partnership with IMG ARENA is poised to revolutionise the way detailed data is collected, both live and in-venue. This collaborative endeavour will introduce South African cricket to a fresh betting audience, and we are extremely excited about this opportunity. We are collectively shaping the future of sports data collection and broadcasting, setting new standards of excellence in the industry.”

The deal further diversifies IMG ARENA’s portfolio of data and streaming rights, adding CSA to its breadth of sports properties including soccer, tennis, golf, basketball, mixed martial arts and more.

Continue Reading

Africa

Booming Games Enters South African Market in Partnership with Intelligent Gaming

Published

on

Reading Time: < 1 minute

Booming Games, a leading slot provider, is extremely pleased to announce the launch of their highly immersive games for the South Africa online gaming market.

The South African online gaming market is renowned as one of the world’s most exciting emerging regulated markets. Booming Games, in collaboration with Intelligent Gaming South Africa, has successfully completed localization testing and certification. The company extends its gratitude to Intelligent Gaming for their dedicated efforts in helping achieve this milestone. With this accomplishment, Booming Games eagerly anticipates distributing its innovative and engaging games across the entire Intelligent Gaming network.

Solomon Godwin, Head of Africa at Booming Games, said: “South Africa is key to our development goals, so it’s exciting to get on board with a partner such as Intelligent Gaming. Their insight and experience in South Africa are essential, and we’re thoroughly looking forward to working with them”.

Marc Plaxton Harrison, Managing Director at Intelligent Gaming, said: “It’s such an exciting suite of games, and our network is very excited about the launch. In the coming weeks, our network of over 30 popular operators will be able to offer fantastic games like Buffalo Hold and Win, Burning Classics Go Wild, Gold Gold Gold, TNT Bonanza, Cash Pig and Flaming Chilies”.

Continue Reading

Africa

Springbok Casino Showcases Winter Survival Strategies of South Africa’s Wildlife in ‘Mzansi’s Winter Wonders’ Feature

Published

on

Springbok Casino Showcases Winter Survival Strategies of South Africa’s Wildlife in ‘Mzansi’s Winter Wonders’ Feature
Reading Time: < 1 minute

 

This July, Springbok Casino invites all players to celebrate ‘Mzansi’s Winter Wonders’, a tribute to South Africa’s incredible wildlife and their unique adaptations to the winter season. From gentle elephants to resilient rhinos, these stories highlight the incredible behaviors and survival strategies of ten animals during the colder months.

Lion dads are the epitome of relaxation, often sleeping up to 20 hours a day. However, when danger threatens their pride, these seemingly lazy kings become fierce protectors. During the colder months, they rely on strong family bonds within the pride, while lionesses take advantage of the longer winter nights to stalk their prey more effectively.

With the vegetation thinning out, Elephants rely on their excellent memory and social knowledge to locate resources.

African Penguins are resilient birds who rely on their dense feathers to keep warm as they swim in the chilly waters hunting for fish.

Relying on their strong sense of smell, Rhinos spend the winter months locating the last remnants of edible plants and can often be seen visiting waterholes more frequently, ensuring they stay hydrated.

With less foliage, spotting prey becomes easier, and Eagles take full advantage with their keen eyesight. Eagle pairs use the winter to strengthen their bonds and are often seen soaring together and performing aerial displays.

Meerkats will dig deeper and more complex burrows to avoid the chill. Their intricate tunnel systems provide warmth and safety, allowing them to huddle together during cold nights.

The feature also highlights how Black-backed Jackals, kudus, Vervet Monkeys, and Baboons alter their foraging patterns and habits during the winter months.

To honour South Africa’s resilient wildlife, for the month of July, Springbok Casino is offering players 25 free spins on its new Cosmic Crusade slot.

Continue Reading
Advertisement
Alpha Affiliates
Advertisement

EveryMatrix

Advertisement

Launch your iGaming business swiftly and effortlessly with our comprehensive turnkey solutions

Advertisement
Stake.com
Advertisement
xbit4.com

Trending (Top 7)

Get it on Google Play

EuropeanGaming.eu is a premier online platform that serves as a leading information hub for the gaming and gambling industry. This industry-centric media outlet reaches over 200,000 readers monthly, providing them with compelling content, the latest news, and deep-dive insights.

Offering comprehensive coverage on all aspects of the gaming sector, EuropeanGaming.eu includes online and land-based gaming, betting, esports, regulatory and compliance updates, and technological advancements. Regular features encompass daily news articles, press releases, exclusive interviews, and insightful event reports.

The platform also hosts industry-relevant virtual meetups and conferences, and provides detailed reports, making it a one-stop resource for anyone seeking information about operators, suppliers, regulators, and professional services in the European gaming market. The portal's primary goal is to keep its extensive reader base updated on the latest happenings, trends, and developments within the gaming and gambling sector, with an emphasis on the European market while also covering pertinent global news. It's an indispensable resource for gaming professionals, operators, and enthusiasts alike.

Contact us: [email protected]

Editorial / PR Submissions: [email protected]

Copyright © 2015 - 2024 - European Gaming is part of HIPTHER. Registered in Romania under Proshirt SRL, Company number: 2134306, EU VAT ID: RO21343605. Office address: Blvd. 1 Decembrie 1918 nr.5, Targu Mures, Romania

We are constantly showing banners about important news regarding events and product launches. Please turn AdBlock off in order to see these areas.