Clarity sought on gambling tax
Johannesburg - The National Gambling Board (NGB) has written to the National Treasury and the revenue service requesting clarification on gambling taxes announced in the 2011 budget speech.
The NGB, as regulator of the gambling industry, was addressing the "uncertainty ... and concerns" raised by Finance Minister Pravin Gordan's budget speech, spokesperson Baby Tyawa said on Thursday.
In the budget, it was announced that a 15% tax on gambling winnings of R25 000 and over would be imposed with effect from April 1 2012.
The NGB has requested a meeting with the National Treasury and SA Revenue Service to clear up the uncertainty surrounding the proposed tax, Tyawa said.
"The outcomes of this meeting will be shared by all stakeholders and those affected by this announcement," she said.
The Treasury had indicated there would be sufficient time for the industry to respond to the draft legislation in May.