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Kenya to introduce new tax regime for online gambling

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3-12 Kenya to introduce new tax regime for online gamblingReading Time: 1 minute

 

The Kenyan government has announced that it is going to implement a new tax regime, especially for online and mobile gambling.

The Kenya Revenue Authority (KRA) has said that the new taxes will come into force in this July. The government is hoping to collect €463.2 million by the end of the year from gamblers and mobile money users. KRA commissioner-general John Njiraini hinted at a 10 per cent tax on mobile phone-based payments.

Mr. Njiraini added that the authorities have projected they’ll miss the annual tax collection target set by the Treasury by €963 million by next June 30.


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Kenya to introduce new tax regime for online gambling

George Miller (Gyorgy Molnar) started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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Oriental Group Gets Approval for Developing Gaming Hubs to House POGOs

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9-10 Oriental Group Gets Approval for Developing Gaming Hubs to House POGOsReading Time: 1 minute

 

Oriental Group, the Asian-based online gaming giant, has got approval form PAGCOR, the gaming regulator in Philippines, to develop two hubs for the purpose of hosting accredited Philippine Offshore Gaming Operators (POGOs). The hubs will be based in Clark and Cavite.

The hubs will not only house the offices of accredited POGOs but also workers’ residences and relevant government agencies. The idea is to make it easier for PAGCOR to regulate the industry.

“We are making business more comfortable and easier for the operators by now licensing POGO hubs. Since it’s easier for us to regulate when they are in hubs, then there are some special privileges there like five-year licenses,” PAGCOR chair Andrea Domingo said.

According to Kevin Wong, General Manager of Oriental Game, the Clark hub which is covering an area of around 10 hectares is already operational and will be able to accommodate 5000 workers once at full capacity. The Cavite hub, which will cost Oriental Game Php8 billion (US$156 million) to build, will cover 20 hectares and house 20,000 workers.


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Oriental Group Gets Approval for Developing Gaming Hubs to House POGOs

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Sands China Launches Special Financing Support Programme for Local SMEs

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8-11 Sands China Launches Special Financing Support Programme for Local SMEsReading Time: 1 minute

 

Sands China, the integrated resort developer and operator in Macau, has launched a special financing programme for its local SME suppliers, in cooperation with six local banks.

The new financing programme is part of Sands China’s F.I.T. initiative which offers Financial Support, Invitational Matching and Training and Development to local SME suppliers.

Through the Sands China SME Financial Support Programme, six local banks are offering special loans and credit to local SMEs who have contracts or purchase orders with Sands China. The goal is to support the development of local SMEs through faster, easier and more favourable bank financing loan products.

“Sands China is very pleased to be the first integrated resort operator in Macao to present this new financing program for our local SME suppliers. It is important for our company’s growth to go hand-in-hand with the growth of local businesses, and this latest initiative is part of Sands China’s ongoing and long-term commitment to supporting local SME suppliers. We want our presence in the marketplace to provide opportunities for smaller companies in Macao to benefit from the business opportunities that are created as a result,” Dr. Wilfred Wong, president of Sands China Ltd said.


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Sands China Launches Special Financing Support Programme for Local SMEs

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Middleton Katz Joins SMP Group

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katz-smp Middleton Katz Joins SMP GroupReading Time: 2 minutes

 

Isle of Man-based corporate services provider Middleton Katz has today announced a deal to join the SMP Group of Companies, a global professional and financial services group.  The transaction has been approved by the Isle of Man Financial Services Authority.

Middleton Katz is a well-respected service provider on the Isle of Man, delivering corporate, tax, and accounting services to a broad range of clients. The company has built its reputation on professional expertise, personal service, and attention to detail.

Martin Katz, Principal of Middleton Katz, commented: ‘I am incredibly proud of the business and sense of community we have built; as a small, close-knit team, we have consistently punched above our weight in terms of the services we deliver. However, joining a larger group gives us the back-office support we need to extend and improve the services we offer clients much farther than we could alone. For us, SMP was a clear candidate from the beginning. We have dealt with them many times in the past and always been treated fairly and respectfully, so we already have strong relationships with many of their team.’

David Hudson, CEO of SMP Group, added: ‘Middleton Katz is an efficient and highly skilled company that is well-loved and respected by both clients and staff for its personable and reliable service and culture. We know they will integrate very naturally into our business, and we believe our shared history and ambitions will be hugely beneficial for their clients and staff.

‘Middleton Katz is our second acquisition since completion of the MBO on 14th June and represents another significant milestone for our Group.’

The deal has been undertaken with the support of Palatine Private Equity LLP, the UK mid-market private equity house that took SMP through its 2019 MBO, with additional debt funding from Apera Asset Management.


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Middleton Katz Joins SMP Group

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