MGA reminds licencees of new reporting obligations

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:

A ‘Gaming Revenue Declaration’ must be submitted to the MGA in accordance with ISRS 4400 (Revised) Agreed-Upon Procedures Engagements in relation to the Gaming Tax and the Gaming Licence Fees applicable to the licensees which fall under the Maltese licence

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

Due date

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.