DAR-ES-SALAAM, Tanzania has in the past five years witnessed a massive growth in tax collections from gaming activities, thanks to the increased number of players and tight supervision.
According to data from the Gaming Board of Tanzania (GBT), tax revenues collected by the government from gaming activities have increased from 11.4 billion shillings (about 5.08 million US dollars) in the 2012/13 fiscal year to 36.8 billion shillings (about16.4 million USD) in last fiscal year.
Sports Betting Management System Remote Access technology as well as close supervision by the GBT and Tanzania Revenue Authority (TRA) are behind the impressive performance. Gaming activities currently in the country include casinos, sports betting, SMS Lottery, slots operations and 40 machines sites.
According to GBT data, tax contributions from Sports Betting, with 17.9 billion shillings, topped the list, followed by casinos, which contributed 7.8 billion shillings to the government coffers, in the 2016/17 fiscal year.
In the last three years, according to the information compiled by the GBT, the country enjoyed a huge growth in tax collections, with gaming activities generating 15.3 billio shillings in taxes in 2014/15, rising to 24,4 billion and 36.8 billion in 2015/16 and 2016/17, respectively.
The GBT said it was able to ensure tax collections because it was connected to an electronic information system which enabled it to monitor all betting transactions. All industry players have been ordered to provide the regulator with remote access passwords, which facilitates GBT in monitoring all transactions remotely. By doing so, the board can easily make close follow-ups and plug all loopholes for tax evasion, the regulator added.
The GBT said audits are is conducted regularly to ensure that the gaming activities adhere to all regulations under the Gaming Act, 2003.
Source: NAM NEWS NETWORK