Change continues to be the theme among governments that permit Net betting within their jurisdictional borders. Among the governments fine-tuning their regulations is that of St. Kitts/Nevis, a Caribbean island located just west of Puerto Rico.
Under the St. Kitts Betting and Gaming Act of 1999, Net betting operators can receive a generic gaming license to operate a business for physical gaming, Internet gaming, horse or greyhound betting or sportsbook betting. Applicants pay a US$80,000 to apply for the license, then another $40,000 annually to renew the license.
A recent change last month to St. Kitts regulations, however, tacks on a $10,000 annual fee charged to sub-licensed operators, according to Telecommunications Minister Dwyer Astaphan.
He added that the government is considering charging a 2-1/2 percent monthly turnover fee. Although reluctant to call it a tax, he called the fee a "nominal contribution" to the government, much lower than that charged in many other nations. Plus, he extolled both the island's many amenities (including the liberalization of the St. Kitts' telecommunication's industry) and the low cost to operate a business there.
"The operational costs are lower here and we offer a clean and safe environment," he said.
The tax is going through a consultation process and, if passed, is unlikely to become effective before the second half of 2001. Astaphan expects a decision to be made within the next three months.
Additionally, sub-licensees may be required to go through the same due diligence as required for license holders.