AGCC AND LGA SIGN MOU

Wednesday November 13 ,2013 : AGCC AND LGA SIGN MOU
 
Provides for inter-jurisdictional co-operation for licencees
 
An agreement between the Alderney Gaming Control Commission and Malta's Lotteries and Gaming Authority is the latest in jurisdictional collaboration.
 
The two authorities have reportedly been in discussion for some time and the resultant MoU was driven by the advent of new technology and the changing business world.
 
While the usual exchange of information fall under the terms of the agreement, other areas that have a direct impact on operators include player pooling, the offer of cross border services and key technological issues such as cloud computing.
 
Robin Le Prevost, Alderney's Director of eCommerce Development commented: "The role of the offshore jurisdictions is evolving very quickly because of the rise in Point of Consumption taxation and regulation, new technologies such as cloud computing and the need for strong regulatory oversight. Alderney's position has been ‘the better the co-operation between jurisdictions, the better the standard of regulation can be'. It also provides considerable benefits for operators, which is increasingly important as the cost of multiple licenses and compliance rise inexorably".
 
Of immediate benefit to each jurisdiction's operators will be the ability to provide services from Alderney into Malta and vice versa without the expense of deploying equipment in each jurisdiction.
 
Other benefits include issues which affect taxes. Structures can now be put in place which will minimise or eliminate the jeopardy of double taxation.