The Impact of New Zealand’s Online Gambling Regulatory Update

In a recent update to New Zealand’s online gambling regulations, the government has passed new legislation that introduces the offshore gambling duty. This duty aims to regulate offshore online casinos offering services to New Zealand residents by imposing a 12% tax on gross betting revenue, in addition to the existing goods and service tax (GST).

This update is significant as it marks a shift towards stricter regulation of the online gambling industry in New Zealand. Offshore gaming operators will now be required to pay a total tax rate of 25% on gross betting revenue, with the offshore gambling duty coming into effect on 1 July 2024.

One key aspect of the new legislation is the exclusion of offshore gambling operators providing ‘sports and racing’ wagering options to New Zealand residents from the offshore gambling duty. These operators will continue to be subject to point of consumption charges of 10%.

Overall, the regulatory update aims to create a more transparent and accountable online gambling environment in New Zealand. Offshore gaming operators will be required to file returns and pay the offshore gambling duty on a quarterly basis, aligning with their current GST returns.

With these changes, it is crucial for offshore gaming operators to stay informed about the latest regulations and comply with the new requirements to avoid penalties and ensure continued operations in the New Zealand market.

#NewZealand #OnlineGambling #RegulatoryUpdate