BETTING NIGERIA NIgeria – Sports Betting Platforms Wants 3-year Tax Holiday 2 years ago Iwo Bulski Post Views: 1,044 Operators of sports betting firms in the Nigerian gaming industry have called on the government for a three-year tax holiday or a 50 per cent tax cut due to the losses they have suffered during the coronavirus pandemic. The operators revealed this in a virtual meeting with the Director-General of National Lottery Regulatory Commission, Lanre Gbajabiamila, on Saturday. Narrating their challenges, several of the operators expressed frustration with the lockdown imposed by the government, claiming it had adversely affected their business, thereby reducing their projected revenue. “The operators therefore came to the unanimous consensus; asking that they be granted a three years tax holiday or at least reduce their taxes by 50 per cent. They also urged government not to introduce new taxes during this pandemic period,” – a statement by the commission read. In his response, Gbajabiamila said the Federal Government would ensure the sports betting sub sector of the Nigerian gaming industry does not suffer any undue setbacks during the pandemic. However, the operators further urged the NLRC to approach the issue of remote gaming with utmost seriousness. Stating that it was wrong to allow foreign betting companies to continue to poach businesses from Nigerian gaming space without being regulated or making any returns to the Nigerian government, unlike the case of local gaming operators. “As your regulator, we feel obliged to touch base with you, find out the challenges you are facing in your business and see how we can continue to work together, despite the difficulties occasioned by this ugly pandemic. Let me assure everyone that government will do the best it can to protect every business within the industry, we cannot fold our arms and watch our industry with the huge investment therein go down the drain. I am optimistic that the Federal Government will not hesitate to give necessary approval for any form of palliative that will ensure your business remains viable because ours is a very peculiar industry which if properly harnessed would adequately shore up the much-needed revenue for government.” The NLRC boss said the meeting became pertinent, not only to ensure close contact with the operators, but also to review their operational challenges in the face of the pandemic and the lockdown. Source: thenigerianvoice.com About Post Author Iwo Bulski Issues related to the gambling business is engaged in more than 30 years. My empirical experience gives me the opportunity to present events and companies from this business with full knowledge and industry knowledge. See author's posts Iwo BulskiIssues related to the gambling business is engaged in more than 30 years. My empirical experience gives me the opportunity to present events and companies from this business with full knowledge and industry knowledge. Facebook Twitter LinkedIn Email Print Tags: Nigeria, reduce tax, sports betting Continue Reading Previous Egyptian Premier League to return in mid-June, PM saysNext SportPesa plans return but have Kenyans already turned elsewhere? More Stories BETTING KENYA Gambling operators ignore orders to close during the election 1 day ago Iwo Bulski BETTING GHANA Ghana: Gaming Commission Must Regulate Industry 2 days ago Szarlot BETTING KENYA Kenyans spend over KSh 300b on bets, cigarettes and liquor yearly 2 days ago Szarlot BETTING NIGERIA All About Cricket Betting 3 days ago Iwo Bulski BETTING KENYA Kenyan government orders all operators to close for election day 3 days ago Iwo Bulski BETTING KENYA The government should work with the betting industry 2 weeks ago Iwo Bulski EXPERTS NIGERIA SBWA + 2022 Summit this week in Nigeria 2 weeks ago Iwo Bulski BETTING KENYA Eighteen new firms enter booming betting arena 2 weeks ago Iwo Bulski EXPERTS NIGERIA Money laundering: ECOWAS agency fingers Nigerian casinos 2 weeks ago Iwo Bulski NIGERIA ONLINE BGaming develops compression algorithm to cut game loading time 2 weeks ago Iwo Bulski BETTING KENYA Tanzania joins Kenya, Uganda tax squeeze on gamblers’ winnings 2 weeks ago Iwo Bulski BETTING HOT NEWS KENYA BCLB clears 11 betting companies to receive operating licenses 3 weeks ago Samuel Leave a Reply Cancel replyYour email address will not be published. Required fields are marked *Comment * Name * Email * Website Save my name, email, and website in this browser for the next time I comment. Δ This site uses Akismet to reduce spam. Learn how your comment data is processed.