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Vanuatu Interactive Gaming (Amendment) Act 2002

Commencement: 1 January 2003

REPUBLIC OF VANUATU

VANUATU INTERACTIVE GAMING (AMENDMENT) ACT
NO. 30 OF 2002

Arrangement of Sections

1. Amendments
2. Commencement
   

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Assent 31 December 2002
Commencement 1 January 2003

REPUBLIC OF VANUATU

VANUATU INTERACTIVE GAMING (AMENDMENT) ACT
NO. 30 OF 2002

An Act to amend the Vanuatu Interactive Gaming Act No. 16 of 2000.

Be it enacted by the President and Parliament as follows-

1. Amendments
   

The Vanuatu Interactive Gaming Act No. 16 of 2000 is amended as set out in the Schedule.

2. Commencement
   

This Act commences on 1 January 2003

SCHEDULE

AMENDMENTS OF THE VANUATU INTERACTIVE GAMING ACT
NO. 16 OF 2000

1 Subsection 30(1)

Delete “A”, substitute “Subject to subsection (1A), a”.

2 After subsection 30(1)

Insert

“(1A) If a licensee’s operations consist in whole or in part of fixed odds wagering, interactive gaming tax is imposed on the gross turnover of the whole of those operations or that part of those operations, as the case requires.”.

3 Subsection 30(3)

Repeal the subsection, substitute

“(3) The rate of interactive gaming tax must not exceed:

(a) in the case of fixed odds wagering, 5% of a licensee’s gross turnover; or

(b) in any other case, 18% of a licensee’s gross profit.”.

4 Subsection 30(4)

After “operations”(first occurring), insert “(other than fixed odds wagering)”.

5 At the end of section 30

Add

“(5) For the purposes of this section, the gross turnover of a licensee’s operations consisting of fixed odds wagering for a particular period is the total amount received during that period by the licensee from the fixed odds wagering less amounts paid to bettors or any other person during that period by way of a refund on account of non-operative bets due to:

(a) the abandonment or postponement of the betting event concerned; or

(b) the scratching or withdrawal from that betting event of any runner or participant on which a bet has been made.”.

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