Kazakhstan parliament members have approved changes to the country’s Tax Code that will require operators to provide reports on the activities of local players.
Under the new rules, owners of gambling and lottery companies must submit information about the size of bets players have placed, as well as data on gambling losses and winnings. The aforementioned information must be sent online to the country’s National Tax Authority.
To make sure that gambling companies are compliant with these new rules, Kazakhstan will also require operators to adopt new tech systems that automatically send the information to the authority.
In addition to requiring operators to provide information about their customers’ losses and winnings, Kazakhstan has also introduced rules that will require national banks to provide information on the gambling transaction of local players within 10 days of the transaction.
Kazakhstan Is Updating Its Gambling Laws but Plans No Dedicated Regulatory Framework
The introduction of the new laws is in line with the ongoing gambling reforms ushered in by President Kassym Tokayev. The president seeks to address the concerning gambling harm rates among Kazakh citizens, especially among younger players.
Despite that, Tokayev has not announced further regulatory plans. For reference, the country has no clear regulatory framework like other modern gambling markets.
Vice Minister Yerzhan Erkinbayev was put in charge of the review of the country’s gambling rules. Several weeks ago, Erkinbayev published the first set of proposals, which included the raising of the legal age for gambling from 21 to 25.
Erkinbayev’s proposals also envision harsh penalties for gambling operators that violate the rules by offering gambling to underage customers.
Tokayev continues to review the Vice Minister’s recommendations, which may lead to further changes in Kazakhstan’s gambling sector.
Earlier this year, the leading esports wagering solutions supplier Oddin.gg joined forces with Olimpbet, a Kazakh sports betting operator.