The Belarusian tax ministry has confirmed the country will regulate online gambling from the start of April 2019.
Vladimir Mukvich, the Deputy Tax and Duties Minister, informs that there would be a transitional period lasting for two years, through the 1st of April 2019, when online operators would be able to apply for an online gaming licence.
Mukvich added that he does not expect a significant number of online casino operators initially as the country does “not see any preconditions for such a trend”.
The Deputy Tax and Duties Minister also noted that the legislation, Decree No.305, would put in place strict conditions for operators in order to protect Belarusian population of almost 10 million people.
Vladimir Mukvich, the Deputy Tax and Duties Minister, said:
The bill to legalise online gambling activities was put forward to Sergei Nalivaiko, the Minister of Taxes and Levies, in July this year.
The president of Belarus Alexander Lukashenko signed the decree into law earlier this month, giving green light to online gambling.
According to the decree, gambling would be allowed only to those of 21 years of age and over, with identity checks required.
Online casino operators will have to deposit funds into a designated account . The payment would be used to cover any winnings and/or tax payments should a casino go belly up.
The transactions will be monitored by the Belarusian tax authorities through a special payment system.
Landbased casinos will be required to install surveillance cameras, while punters would not be allowed to lend money to other players.