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November 17 - The South African government has come one more step closer to making online gambling a reality, by proposing a new bill that will tax online casino operators.
Trevor Manuel, the South African Minister of Finance, publicized his government's proposed Interactive Gaming Tax Bill on Thursday on an official website.
The new Interactive Gaming Tax Bill will essentially tax the gross gambling revenues of online casino operators, while a "special tax" would be offered to online casino sites that did business in the South African market.
The South African government has always maintained that in order to create the best type of national gambling policy for its own particular market, it would need to build on strong national oversight. This is, according to the government, "as opposed to it remaining in the hands of offshore jurisdictions, with little or no protection for local consumers."
In May of this year, the South African government passed the ground breaking National Gambling Amendment, Bill, which essentially places the online and offline gambling industries under national spotlight and creates a list of tough regulations for these markets. The aim of this bill is to protect consumers and vulnerable members of the population, including children and problem gamblers, by reinforcing regulatory conditions.
The National Gambling Amendment Bill also prescribed a special tax to be established on internet gambling, and Manuel's Interactive Gaming Tax Bill is offshoot of the original bill.
It is believed that the bill, after being reviewed and commented on, will be voted on in mid 2009.
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