MGA Needs To Put Foot Down On Reporting And Gaming Tax Collection

Following the annual verification exercise carried out by the National Audit Office (NAO), it was revealed that gaming operators were not always respecting their reporting obligations with regards to players' liabilities and taxes. The NAO tested 45 licences, 1 belonging to the National Lottery Operator, 2 to casinos and the rest to remote gaming operators. Collectively, these accounted for €26,476,866 in gaming tax revenue, out of a total of €53,785,256 in tax revenue payable to the Malta Gaming Authority (MGA).

In the audit carried out by the NAO, it resulted that financial statements presented by gaming operators did not contain the sufficient information with regards to players' liabilities and tax. This puts the MGA in a risky position, particularly in the eventuality that an operator ceases all operations and does not have sufficient finances to cover players' funds.