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Yes there are sanctions for non-compliance and they include:
a. Prosecution
b. Suspension of Pools promoter’s licence
c. Interest and Penalty.
Pools and betting tax is a tax levied on any licensed proprietor carrying out pools and betting business within the State.
Renewal
of Pools Betting Licence commences at the beginning of every financial year.
Stakeholders
in the Pools and Betting industry include:
a.
EIRS
b.
Pools Promoters
c. Pools Agents
Pools Stakers
The Edo State Internal Revenue Service
is legally saddled with the responsibility of regulating pools and betting business in
Edo State.
To continue in the business of pools betting, a pools promoter is expected to renew his pools promoter’s licence as well as possess the following:
a. Income Tax Clearance Certificate for the past 3 years to be presented by two (2) of the company’s Directors.
b. Evidence of payment of current year Income Tax assessed by the Edo State Internal Revenue Service.
c. Bank Guarantee.
A Pools promoter intending to embark on the business of pools betting in Edo State, is expected to register with the EIRS with the following requirements:
a. Complete a registration Form;
b. Licence Fee;
c c. Agents Licence;
d. Bank Guarantee.
