S.L. 583.10 Art. 6Method of payment.

(1) The amounts payable in terms of these regulations for any given tax period shall be paid throughout the tax period by way of monthly payments to be calculated on the gaming revenue accrued during each and every month falling within a tax period, hereinafter referred to as the "reference month". The tax due shall be paid together with the submission of any return required in terms of regulation 7 on the twentieth day of that month next following the reference month, hereinafter referred to as the "settlement month".

(2) At the end of each reference month, the gaming revenue generated from each type of gaming services during that month shall be determined and the corresponding amount of gaming tax as due in accordance with regulation 3 shall be computed as prescribed in these regulations.

(3) Where any amount payable in terms of these regulations is not paid when due, interest shall be due and payable at the rate prescribed in rule 2 of the Income Tax (Interest Rate) Rules, which rate shall be applied to the unpaid amount for each month or part thereof for which the amount remains unpaid.

(4) In any circumstances in which the amount actually paid in accordance with regulation 3 exceeds the amount actually due by such person for that tax period, the excess shall not be refundable and no interest shall accrue thereon in favour of the payor but the said excess shall be available for set-off against any amount payable by such person in accordance with regulation 3 in any tax period commencing after the termination of the tax period in which or by reference to which the excess was paid.

(5) The Minister may by regulations prescribe rules allowing a credit of other turnover tax actually paid in Malta to the relevant local competent authority by the holder of a licence falling under paragraph 1(a) of the First Schedule to the Gaming Authorisations

Regulations against all or any amount due and payable under these regulations, subject to such conditions as shall be prescribed.

(6) The Authority may, by binding instrument issued by the Board, regulate the granting of any reduction, credit, set-off or other relief in respect of any amount payable under these regulations, which shall be granted either on a unilateral basis or pursuant to bilateral or multilateral treaties, agreements, memorandum of understanding or other arrangements entered into with any foreign government or any local or foreign authority or government agency.

Part V Returns and Assessment