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Malta delays the iGaming law in Cyprus...

Malta delays the iGaming law in Cyprus

Malta delays the iGaming law in Cyprus

NetShop ISP

NetShop ISP · Blog Author

Oct 06, 2017 · Archive

The Maltese authorities after evaluating the proposals of the new Gambling Law of Cyprus, they have delayed it as they have to share a detailed opinion on the new regime.

Αlthough the proposals are being evaluating by the European Commission, Malta as one of the pioneers on the iGaming in Europe must also give an opinion on the plan along with other Member States.

The three-month suspension period where the European Commission and the certain Member States have reviewed the local bill and examined whether or not the plan creates obstacles to the free movement of goods and services in breach of the European Union, seemed to be not enough and it has been prolonged until December following the submission of Malta.

Cyprus has proposed a comprehensive plan for the regulation of the Cyprus national iGaming market by “remedying several earlier infringements with the 2012 law identified by the EC, including one related to local ISPs’ obligations in relation to blacklisting and website blocking.”

As per the official statement presented in June 2017 to the EU Commission, the plan suggests a 10% tax on the net income from players in Cyprus plus an additional 1% contribution of net revenue to responsible gambling initiatives and 2% to support the sports organizations in Cyprus.

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