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South Africa continues on their road to regulating online casinos.  The country has steadily implemented sound measures that will hopefully fully regulate the profitable industry.  Recently the South African Minister of Finance proposed the Internet Gaming Tax Bill.  Taxation is on of the factors that have attracted many countries to the regulation of online casinos.

The Minister’s proposition suggests the taxation of gross gambling revenue of online casinos.  There would be a special tax put in place for sites doing business in South Africa.

The National Gambling Amendment Bill passed the South African National Assembly in only May of this year.  The law calls for strict regulation of online casinos and Internet gambling in the country.  Part of the regulation is a taxation policy.  South Africa has aimed to uphold existing regulatory conditions regarding online casinos by implementing tight rules on a national level that will protect consumers and especially children in South Africa.

South African legislation recognizes that most online casinos must adhere to very strict regulations in the countries from which they operate.  Despite those high demands, South Africa intends to enforce its own demands.  The opinion of the South African government is that strict national oversight of online casino is best for the consumers, “as opposed to it remaining in the hands of offshore jurisdictions, with little or no protection for local consumers.”

The government of South Africa intends to retain control over online casinos in their territories by assuming total responsibility for the regulatory process.  This is quite the opposite of the ban on online casinos implemented in the United States, which will undoubtedly lead to an unregulated black market.

 

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