The National Treasury has proposed slapping the booming online gambling industry, including the popular sports betting, with a 20% tax on the gross gambling revenue of the online and interactive gambling industry in a move that it says might rake in more than R10bn for the fiscus.
If National Treasury has its way, it will demand that local suppliers of online betting register and provide the SA Revenue Service with similar information provided to provincial gambling boards to collect tax revenue.
The department says in a consultation paper the proposal is not fixated with revenue raising, but on addressing the negative effects that online gambling is having on society.
“… the 20% tax on gambling would translate into over R10bn in additional revenue for national government. However, the main objective would not be to raise further revenue but rather to discourage problem and pathological gambling,” the paper reads.
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Business Day
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