Angola: Tax Revenue From Gaming Activity Exceeds 10 Billion Kwanzas in 2023

Luanda — The collection of direct revenue for the National Treasury from Gaming activities, in the 2023 financial year, amounted to more than 10 billion kwanzas, ANGOP learned Monday.

The data was released by the Gaming Supervision Institute (ISJ), highlighting that the deepening of the ongoing reform process contributed to "this remarkable performance".

The ISJ also points out the continued adoption of online games, the expansion of territorial-based social games to more provinces of the country, associated with the increase in supervision and inspection actions.

The note adds that gaming activity is associated with a high potential for revenue collection, meaning that it is up to the States to authorize, regulate and monitor it. According to the report, in jurisdictions where the activity is properly founded and developed, the potential for collecting public revenue, derived from the game, is estimated at up to two percentage points of the respective Gross Domestic Product (GDP), or Gross Social Product (PSB).

"A continuous increase in revenue from the Special Gaming Tax is expected in 2024, with the beginning of the exploration of lottery games, which are more intuitive, appealing and easier to play games, which will facilitate the increase in the universe of bettors (women and elderly people)", the document says.

Data from 2022 shows that in the first half of the year the gaming sector guaranteed revenue to the State of an accumulated total of more than three billion kwanzas.

The Gaming Supervision Institute is the specialized body to support the Executive in defining economic policy, in the areas of the gaming industry, as well as the regulation, supervision, inspection and monitoring of all this activity. HM/AC/TED/DOJ

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