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In review: licensing and taxation of gambling activities in Cyprus

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In review: licensing and taxation of gambling activities in Cyprus
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The gambling industry in Cyprus is regulated by a series of legislative instruments. The Betting Law regulates betting activities. According to the Betbing Law, the regulator of the betting industry is the National Bettering Authority. Casinos are regulated under the Law on the Establishment, Operation, Activity, Supervision and Control of Casino. Remote and land-based gambling is not regulated. The competent authorities tasked with ensuring compliance with the requirements of applicable laws are the respective district officer or other body. They can also be nominated by virtue of specialised legislative tools.

Gambling activities in Cyprus are subject to additional tax obligations. A 20% tax on profits exceeding €5,000 is levied. There are gambling taxes applicable to gambling operators. Every licensed person must pay to the government betting tax of 10% on its net proceeds and 3% of its gross proceeds to National Betting Authority. The licensed casino resort administrator is also obliged to pay a casino tax 15% per month.

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