MALTA - The Ideal Location for Betting Operations
In 2000, the Maltese government issued
regulations governing the operations of Internet Based Betting Offices.
Under these regulations, the Director of
Public Lotto will grant licences to operate such betting offices to such
persons having "the appropriate business ability to conduct the betting
office successfully." Licences are issued for a minimum period of
five years and may be extended for further periods of five years.
Favourable Tax Regime
The attractiveness of Malta as a venue for
betting operations is also due to the tax-friendly environment in which
they are allowed to operate:
Maltese betting operations are carried out through an International Trading Company
(ITC) set up for the purpose. ITCs are subject to the corporate tax
rate of 35%. However, this is effectively reduced to 4.17% as
non-resident shareholders are entitled to a rebate of 30.83% of the tax
paid on distribution of dividends.
Malta - a popular betting destination
The above scenario has resulted in a
considerable number of international betting companies, many based in
Britain, recently setting up offshore operations here, enabling their
clients to bet online through the numerous Internet facilities available
today.
