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South Africa to tax winnings

New proposals from Finance Minister would see players asked to pay a 15 percent tax on anything over $3,500 from April of next year.

Friday 25th February 2011

In South Africa, players that win over $3,500 gambling or via the National Lottery may soon be asked to pay a 15 percent tax under new proposals unveiled earlier this week by Finance Minister Pravin Gordhan. The measure forms part of the Minister’s annual budget proposals and would come into effect from April of 2012 in order to facilitate moderate relief for the nation’s taxpayers amounting to $1.1 billion. The Minister stated that a tax on gambling would be in line with practices in other countries such as the United States and added that he hoped it would help to discourage excessive gambling. “Despite the obvious merits of this argument, I expect vigorous debate during the parliamentary process,” the Minister said.

Source: OnlineCasinoNews

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