On 5 October 2026, the Inland Revenue Department issued a notice specifying the payment requirements for the Betting and Gaming Levy (BGL) on the gross collections of bookmakers and gaming businesses. This directive operates under the Betting and Gaming Levy Act, mandating that operators remit the levy calculated on total gross collections within the prescribed timeframes. The notice aims to enhance compliance in the rapidly growing gaming sector.
Key Takeaways
- Gross Collection Basis: The levy is computed on the gross collection amount, not net profit, ensuring a broader tax base for betting and gaming activities.
- Monthly Remittance: Operators must submit payments monthly, with the notice detailing the exact due dates and acceptable payment channels via the IRD e-Services platform.
- Penalty Framework: Failure to comply attracts penalties under the Act, including interest on overdue amounts and potential suspension of operating licenses.
Disclaimer: This article is compiled and summarized by the AI based on publicly available information and is for general information purposes only. It does not constitute any form of formal tax advice, legal opinion, or basis for performance. Please consult a qualified professional tax advisor or legal counsel for tax advice.
Source: Read Official Announcement