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Operator licensed and authorised to provide such services will be exempted from sanction. Exempt operator license Singapore-based operators can apply for an online-gambling license to provide remote gambling services to Singaporeans, if the Minister considers it to be in the public interest to do so.
Young persons Young persons anyone below 21 in Singapore are afforded additional protection: it will be an offence to employ young persons to carry out activities in connection with remote gambling services.
Yuk Lun is the founder of SingaporeLegalAdvice. This reduced cost will assist to achieve a higher authorised purpose percentage.
Clubs that operate seven or less gaming machines are eligible to pay reduced licensing fees to the Department.
Clubs should ensure that the amount allocated to authorised purpose payments does not exceed the gaming profit the amount generated for authorised purposes each year.
The amount of gaming profit is reduced by non-cash items, namely depreciation. How do I know if the club is able to purchase new gambling equipment?
These funds can then be used for upgrading and replacing machines. If new equipment is purchased and there are not funds available in the depreciation account to pay for the items, the club should loan the gaming account the money needed to purchase the items, and this loan should be repaid from the gaming account to the club account at the same rate as the depreciation.
New gaming machines should be depreciated over a period of no more than three to five years. Once a depreciation rate is selected, that rate should be applied consistently throughout the life of the asset.
Gaming machine software games should be either expensed, or have a rate reflecting its short asset life e. Obsolete machines should be written off at the earliest point in time, particularly where machines are not capable of being upgraded.
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