MGA reminds licencees of new reporting obligations
30 September 2022
Gaming Revenue Declaration and Player Funds Declaration need to be submitted within 180 days of the licensee's fiscal year's end.
Following up on the notice the Malta Gaming Authority sent on November 25, 2021, licensees are reminded of the duties they have under Article 41(2)(b)(ii) and (iii) of the Gaming Authorizations and Compliance Directive (Directive 3 of 2018), which states:
in the case of B2C licensees providing gaming services by remote means, a ‘Player Funds Declaration’ must be submitted to the MGA in accordance with ISRS 4400 (Revised) Agreed-Upon Procedures Engagements in relation to the player funds, the jackpot funds, as well as the portion of Player Funds Account balance held by the licensees which fall under the Maltese licence
The MGA must receive the aforementioned declarations within one hundred eighty (180) days of the licensee's fiscal year's end.
By way of an exception, the MGA will accept that the first round of declaration may now be submitted by October 31, 2022 to give the licensees and practitioners enough time to get used to these new requirements.
How can BDO help?
Should you require any assistance in submitting the declarations, please get in touch with our Audit team: