Regulatory Alerts2004-01-01
International Trade Zone (Amendment) Regulations, 2004
The Minister of Economic Planning issued the International Trade Zone (Amendment) Regulations, 2004 to update statutory licence fees within the zone. The amended schedule establishes tiered turnover charges for Broadcasting and Telecommunication Act licences, alongside fixed or hybrid rates of 100,000 US dollars (or 50,000 plus one percent turnover) for Interactive Gambling licences and 50,000 US dollars (or 35,000 plus one percent turnover) for Sportsbook licences. These standardized fee structures take effect upon gazette publication on 17 August 2004, establishing clear financial obligations for licensed operators.
[17th August 2004] Supplement to Official Gazette 161
S.I. 23 of 2004
INTERNATIONAL TRADE ZONE ACT
(Cap 102A(1))
International Trade Zone (Amendment) Regulations, 2004
In exercise of the powers conferred by section 14 of the International Trade Zone Act, the Minister of Economic Planning hereby makes the following Regulations—
1. These Regulations may be cited as the International Trade Zone (Amendment) Regulations, 2004.
2. The International Trade Zone Regulations are amended in the Schedule by the addition of the following items at the end thereof in the appropriate columns:
| "Licences under section 11A of the Broadcasting and Telecommunication Act | — | 4% of turnover for the first year; 5% of turnover for the second year; 5% of turnover for the third year; 5% of turnover for the fourth year; 5% of turnover for the fifth year; and 7% of turnover for subsequent years; |
| Interactive Gambling Licence | — | 100,000 US dollars; or 50,000 US dollars and 1% of turnover; |
162 Supplement to Official Gazette [17th August 2004]
| Sportsbook Licence | — | 50,000 US dollars; or 35,000 US dollars and 1% of turnover". |
MADE this 13th day of August, 2004.
JACQUELIN DUGASSE MINISTER OF ECONOMIC PLANNING