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Ottawa has gone all in with landmark Online Gaming Legislation
By Flo Oprail (CP) – 1 hour ago
Ottawa, ONT. Seeing Billions of dollars leave North America to off shore, Caribean countries, Canada has decided to wade into the warm waters of Online Gaming. Finance Minister, Jim Flaherty, told the media, "This will increase our tax roll by over $1 billion dollars over the next five years".
Current online gaming websites will have to pay licensing fees to the government as well as a 5% tax on every deposit a Canadian makes to their site.
After months of negotiations, the Canadian Government is handing over the reigns of Enforcement of this new legislation to First Nations. In return, all past and future land claims are settled.
In addition, all online poker sites will have to adhere to strict compliance to the new "shuffle legislation" which will oversee the RNG programs they use to make sure all is fair on the cyber felt.
Copyright © 2010 The Canadian Press. All rights reserved.
By Flo Oprail (CP) – 1 hour ago
Ottawa, ONT. Seeing Billions of dollars leave North America to off shore, Caribean countries, Canada has decided to wade into the warm waters of Online Gaming. Finance Minister, Jim Flaherty, told the media, "This will increase our tax roll by over $1 billion dollars over the next five years".
Current online gaming websites will have to pay licensing fees to the government as well as a 5% tax on every deposit a Canadian makes to their site.
After months of negotiations, the Canadian Government is handing over the reigns of Enforcement of this new legislation to First Nations. In return, all past and future land claims are settled.
In addition, all online poker sites will have to adhere to strict compliance to the new "shuffle legislation" which will oversee the RNG programs they use to make sure all is fair on the cyber felt.
Copyright © 2010 The Canadian Press. All rights reserved.