Betting Companies to benefit from Gaming Tax and Fee Deferrals
Taking into account the challenges being faced by certain gaming operators particularly due to the cancellation of several sporting activities, the Malta Gaming Authority (MGA) has introduced the following measures to aid licensees that offer betting to their players:
a. A 3-month deferral will apply for the payment of compliance contribution and gaming tax owed to the MGA, for revenue generated from activities classified as Type 2 for the months of March, April and May 2020; meaning that payments for the month of March that would have fallen due end of April, will now be due in July and similarly payments due for April and May will fall due in August and September respectively.
b. A 3-month deferral will also apply for the payment of the fixed annual license fee falling due in March, April or May 2020, for licensees that offer solely and exclusively Type 2 gaming services.
The MGA has also reminded authorized persons that in terms of the Gaming Authorisations Regulations they may avail themselves of the possibility to voluntarily suspend the authorization to operate a gaming vertical where such activity generated from a gaming vertical has ceased or dwindled to amounts that do not justify its continued operation, due to the current pandemic which may be reactivated when the suspension of the major sports leagues is lifted.
In conclusion, the MGA has also made reference to the incentives introduced by the Maltese Government, including the COVID-19 Guarantee Scheme (click to access the content) and the deferral of Tax, VAT and National Insurance Contribution on salaries (click to access the content) which may be availed of by businesses in distress.
The MGA has also committed itself to follow current developments and issue further measures, if necessary.
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