The government has proposed a new regulatory regime aimed at overseeing online casino operations, a move that includes a series of measures designed to ensure transparency and compliance within the industry.
Under the new arrangement, online casino operators will be required to register and report their earnings for tax purposes, shedding light on a sector of the economy that has traditionally been shrouded in secrecy.
A key component of these regulations will be the implementation of IP ‘geoblocking’ for non-compliant services. This technology will limit the access of certain websites based on the user's geographical location, essentially preventing non-compliant online casino operators from offering their services to users within the jurisdiction.
According to official sources, the preferred mode of taxation among the regulators is a flat 12 percent duty. This uniform tax structure is designed to streamline the taxation process and ensure a level playing field for all operators in the sector.
These proposed measures signify a major shift in the governance of the online gambling industry, emphasizing the government's commitment to ensuring fair play and transparency in online casino operations.
