Lots needed before gaming tax can happen

Chairman of the Bahamas Gaming Operators Association Gershan Major on Thursday said that in order for gaming houses to properly introduce the five per cent stamp tax on deposits for gaming customers, “a review of the source code, the conduct of tests of financial transactions and games and the calculation of tamper-proof signatures of all critical software files are needed”.

Major noted that onsite verification must also happen before the new taxes are implemented.

On Monday, the five per cent stamp tax on deposits for gaming customers had been delayed until September 1.

Major also highlighted the fact that these elements are necessary before any gaming house impose the tax on deposits and the government’s September 1 date for implementation, really depends on what the approved age for testing.