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Interactive Gaming (Calculation of Tax)

Commencement: 1 January 2003

INTERACTIVE GAMING (CALCULATION OF TAX)

Order 5 of 2003

To prescribe certain rates of tax and deductions.

1. Calculation of tax
(1) For the purpose of section 30 of the Vanuatu Interactive Gaming Act [Cap. 261], interactive gaming tax is to be calculated at the following rates:

(a) 0.1% on a licensee’s gross turnover;

(b) 2.5% on a licensee’s gross profit.

(2) A licensee is entitled to deduct from the interactive gaming tax that would otherwise be payable for a particular month:

(a) bandwidth charges paid by the licensee for that month in excess of $US 0.07 per megabyte; and

(b) such bad debts as are declared by the licensee for that month that are due to credit card repudiation and/or dishonoured cheques.