NICOSIA, CYPRUS - The government of Cyprus has moved steadfastly to curb the growing social wound of "online gambling."
The Cyprus government has recently approved a draft bill that bans several forms of online gambling said Deputy Government Spokesperson Christos Christofides. According to the government spokesperson, the bill, which would still need legislative approval, will address unclear provisions of existing gambling laws and in effect ban online games such as poker, roulette, and slot machines. However, lotteries and bets on sports will be allowed for those Cypriots of legal age.
The bill also calls for a revision of gaming taxes imposed on regulated operators. Whereas the current tax scheme is 10% tax on profits, the revised taxation will be 3% of revenues. According to the government official, this will discourage cheating.
Source: Canadian Business
