Tag: online gambling

Partial relief on tax for online gaming firms? Find out
2Aug By adminNo Comments
Technology

Partial relief on tax for online gaming firms? Find out

[ad_1] After talking tough last time around, the government has sought to provide partial relief to online gaming companies today. Government has decided to levy taxes on online gaming companies on the total funds deposited to play online games and not on every bet, Reuters quoted Finance Minister Nirmala Sitharaman as saying on Wednesday.Last month, the government said it had decided to impose 28% tax on funds that online gaming companies collect from their customers for every bet. The decision to impose a 28 per cent tax on the full face value of bets placed on online games will be implemented from October 1 even though there was demand for a review from states like Delhi and Goa, Finance Minister Nirmala Sitharaman said on Wednesday. The GST Council -- the highest decision making bod...
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We Are All Gamblers Now, From Sports to Crypto
3Mar By adminNo Comments
Technology

We Are All Gamblers Now, From Sports to Crypto

[ad_1] Congratulations to whoever won a bet on the World Cup via Paddy Power or FanDuel last year: You weren't alone. Parent group Flutter Entertainment Plc took a £40 million ($47.7 million) hit from so-called “customer-friendly” sports results in December. Chief Executive Officer Peter Jackson said he watched the spectacular six-goal final through his hands — “it was a very expensive event for us.” There were other customer-friendly developments in Flutter's 2022 financial results, which triggered an investor-unfriendly fall in its shares. The company estimates it spent £150 million worth of annualized sales on safer gambling measures in the UK and Ireland, where the company imposed a £500 deposit limit for players under 25. The unwinding of the Covid-19 boom also hurt performance...
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Tamil Nadu ordinance banning online gambling challenged
10Nov By adminNo Comments
Technology

Tamil Nadu ordinance banning online gambling challenged

[ad_1] An ordinance promulgated by the Tamil Nadu government recently, banning online gambling, has been challenged in the Madras High Court. An ordinance promulgated by the Tamil Nadu government recently, banning online gambling, has been challenged in the Madras High Court. The first bench of Acting Chief Justice T Raja and Justice D Bharatha Chakravarthy, before which the PIL petition from All India Gaming Federation, by its general secretary Sunil Krishnamurthy on Thursday came up, adjourned the matter till November 16. The writ petition sought to declare the Tamil Nadu Ordinance No 4 of 2022 -- the Tamil Nadu Prohibition of Online Gambling and Regulation of Online Games Ordinance -- as unconstitutional. Among other things, petitioner contended the authorities have enacted ...
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