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The controversial gaming tax law has featured prominently in public conversation. This went a notch higher on December 28, 2017, after a court threw out a case lodged by one of the industry players laying the ground for immediate implementation of the new law, which will see all gaming companies pay 35 per cent tax on gross revenues.
Before the amendment was passed, under the Betting, Lotteries and Gaming Act of 1966, licensed betting companies were required to pay 7.5 per cent of their net operating revenue in taxes and lottery operators were required to pay 5 per cent on their operating revenue and a further mandate to contribute 25 per cent of their gross income to charitable activities or good causes. Other taxes such as corporation tax, VAT and withholding tax still apply.
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