The Tax Code of Kazakhstan was recently amended by the parliament, imposing additional obligations on gaming and lottery operators to generate comprehensive data about the activities of local players.
Operators are required by this new legislation to provide data on bet amounts, game losses, and player wins. Kazakhstan’s National Tax Authority must receive the data online. A prerequisite of compliance for gambling firms is the implementation of new technological systems that can automatically provide the necessary information to the regulator.
These modifications align with President Kassym Tokayev’s ongoing efforts to address concerns about the negative effects of gambling, particularly for Kazakhstan’s youngest players. The country nevertheless lacks a specific regulatory framework comparable to those seen in more developed gaming marketplaces, notwithstanding recent advancements.
Vice Minister Yerzhan Erkinbayev has proposed further regulations, in addition to these reporting obligations, which President Tokayev is now reviewing. Increasing the legal gaming age from 21 to 25 and enforcing stringent penalties on operators that breach underage gambling rules are the first set of recommendations.
These latest developments in Kazakhstan’s gaming industry align with global trends where governments are focusing more on legislation updates and responsible gaming policies to lessen potential harm from compulsive gambling. Stronger regulations, age restrictions, and improved reporting practices are being considered or adopted by a number of countries in an effort to enhance consumer protection in the gambling industry.
Related Article About: Kazakhstan
Original story by: Gambling News
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