Friday, March 31, 2023

Tag: Tax

Slot machine regulation on hold following court ruling

Puerto Rico slot machine regulation
Puerto Rico’s plans to tax slot machines have been put on hold following a decision by the San Juan’s Court of First Instance

Lei Wai Nong: Macau government will not be considering tax changes for the moment

macau tax coronavirus
Amid the ongoing economic uncertainty caused by the coronavirus pandemic, Macau’s government has said that it currently has no plans to introduce tax breaks

Virginia stalled by duty disagreement

With operators waiting in the wings, Virginia has had its sights set on gambling expansion for over a year now, but the House and Senate still don’t see eye to eye on tax rates for venues in the Old Dominion

SPiCE: Alderney eGambling’s Susan O’Leary talks business

Spice, Alderney eGambling, Susan O Leary, interview, tax, gambling
Susan O’Leary is the CEO of Alderney eGambling, the Alderney regulator’s strategic and development body. As a lawyer, she represented some of the world’s leading eGambling operators and gambling service providers including many of Alderney’s licensees. She has a keen sense of what they require from a jurisdiction: a strong pragmatic regulator who understands the commercial environment, a resilient...

Colombia’s gaming industry calls upon government to address tax concerns

TAXATION, Colombia, tax, gaming
Speaking at the second edition of Gaming Market Colombia this October, Evert Montero Cárdenas, president of trade body Fecoljuegos, called on the government and the regulator to take a fresh look at the current tax rate for gaming operators. “We urgently need to revise and consider a tax rate to help this business to become both more competitive...

Kenya moves to cut controversial tax rate after parliament showdown

Kenya, sportspesa, tax, politics, africa
Kenya’s President has fought off stoic parliament opposition and signed off on a finance bill that will see the end of the much maligned 35 percent tax on gaming revenue. Kenyan President Uhuru Kenyatta has positioned himself firmly at odds with members of the nation’s parliament after he signed off on a measure that would cut the nation’s controversial 35...

Sun International feels force of market difficulties and regulatory upheaval but hope for progress remains

Sun International, progress, south africa, debt, tax
Difficult trading conditions and an uncertain regulatory future in South Africa have taken their toll on Sun International’s interim results but hope prevails for a positive resolution to both. When South African casino giants Sun International announced that it would be closing loss making properties and streamlining its portfolio amidst rising debts earlier this year it was the first indication...

Delaware casinos to finally get tax support

A compromise bill passed by the Delaware state house looks set to finally bring forward a raft of casino tax relief measures that operators have be pursuing for more than a decade. With competition in neighbouring states steadily growing, Delaware operators have long sought a reduction of gaming taxation in order to stay financially viable. The latest draft bill seeks...

Kenyan parliament blocks tax reprieve proposals

Casino Review
The Kenyan Government has refused to bow to pressure from casino, sports betting and tourism leaders and declined a review of its calamitous gaming tax framework. It would seem that the voice of reason has not yet reached the Kenyan parliament as MPs have blocked the wholesale reviews of its gaming taxation framework, despite widespread protestations about the negative impact...

Africa comment: Tax will make fools of us all

Kenya Parliament
In what for now ends one of the more frustrating will-they-won’t-they scenarios in Africa, the members of the Kenyan parliament have ratified a decision to financially maim its casino market and expect it to keep working. The powers that be have decided that the best way to support the underperforming sector is to uphold a 35 percent revenue tax and...

New bill could allow Puerto Rico’s casinos to offer online gaming

The Commission for Tourism and Social Welfare is analysing a new measure which would allow Puerto Rico’s casinos to offer online gaming. Presented by the head of the Commission, representative Néstor Alonso Vega, the new bill, Proyecto de la Cámara 1696, would amend the territory’s existing gambling law. Online gaming would be regulated by the Puerto Rico Tourism Company (CTPR),...

Kenya builds foundations for future prosperity

The Kenyan government is continuing to reform all levels of its gaming market through a course of grass level legitimisation and much needed tax structure review. Progress towards a balanced, regulated gambling landscape is leading to top-to-bottom reforms throughout Kenya. At the highest levels of government the much maligned blanket tax on gambling is potentially up for review and at...

Ireland’s tax agency continues crackdown on casinos

The Revenue Commissioners is in the midst of a crackdown on tax and licensing non-compliance in the gaming sector, as Dublin’s casino operators continue to face uncertainty due to the lack of a clear legislative framework for the industry. The Revenue Commissioners - the Irish Government agency responsible for taxation - began a crackdown on the gaming sector last year,...

Kenyan Government turns down tax cuts

Kenya Parliament
Members of Kenya’s Parliament have rejected a plan to cut the much-maligned blanket tax on gambling activities from 35 to 15 percent and have instead drawn up plans for the reallocation of the extra funds. The country’s Treasury proposed amendments to the Betting, Lotteries and Gaming Act, that would lead to the lessening of revenue taxation but saw these withdrawn...

Panama’s regulator in talks over Veneto Hotel and Casino sale

A spate of casino closures provides further evidence of the negative impact of Panama’s 5.5 percent consumption tax on the gambling industry contends Asaja’s president, Antonio Alfaro. The impact of Panama's 5.5 percent consumption tax on the gambling industry continues to make itself felt, with three of the country's casinos forced to close their doors in recent weeks. On 27 April...

Overtaxed: Tax burden on Colombia’s land-based sector unlikely to lessen in 2018

ICR 185 LATAM COLOMBIA tax Evert Montero Cárdenas
Evert Montero Cárdenas, president of Colombian trade body, Fecoljuegos explains how the tax burden on the land-based sector continues to put operators under pressure.   While the Colombian economy looks set to recover from the downturn in crude oil prices, the government’s need to fill a hole in public finances means that the tax burden on land-based casino operators is...

Contested elections and taxes: The rocky road ahead for Kenya

Casino Review
In the wake of one annulled election followed by a rerun widely boycotted for fear of farce Kenya has now seen the main opposition party declared a criminal group, and its leader appointing himself as unofficial leader of the nation.   Alone this would prove a difficult market environment for operators to work in, but those in the industry have additionally...

Greece seeking to attract international investors with casino tax reform

syriza_tsipras_ap_img tax reform
  The Greek government is considering tax reform on casino gambling in a bid to make its national market more attractive to foreign companies.   Greek news source Ekathimerini reported that the government, currently led by the Syriza Party, may move to present new legislation to the Economic Ministry aimed at luring investment into the debt-ridden country. Ministers may table a consultation reviewing...

Tough talk from Kenya’s operators over gambling tax hike

Casino Review
Kenya’s proposed tax hike on all gambling revenue has been met with a backlash from the industry, but no operator has vowed to leave the country - yet.   On 21 June, Kenya’s president Uhuru Kenyatta signed into law a tax hike of 35 percent on gambling revenues as part of the country’s Finance Bill, a significant increase compared with the...

Ugandan government pushes for new tax framework

ICR - Ugandan tax
As the state attempts to strike a balancing act between legislation that encourages investment while also combating a growing black market, could a recent proposal to split taxation between the player and the operator be a game changer for the Ugandan market?   Ugandans spent $44m on gambling activities last year, positioning the sector as a key source of revenue for...

EOGL conference on gaming taxation details steps for Bosnia/Herzegovina

Betting Business taxation Bosnia Herzegovina Sarajevo
A conference organized by the European Organization for Gaming Law highlighted questions and potential pitfalls surrounding taxation laws in the EU and the Federation of Bosnia and Herzegovina   An international conference organised by the European Organization for Gaming Law (EOGL) to discuss “Taxation in the European Gaming Industry” in Sarajevo last week. Delegates from across Europe, including experts from economics, finance, law...

Quintana Roo imposes 10 percent gaming tax

Casino Review Quintana Roo
The popular tourist state of Quintana Roo in Mexico has introduced new taxes on gaming for 2017.   In the Mexican state of Quintana Roo - home to the popular tourist destinations of Cancun and Playa del Carmen - the regional congress has agreed to introduce a new 10 percent tax on sweepstakes and gaming. At present the casino sector is facing...

Minnesota tribes release economic impact report

Casino Review, MIGA, report
Regional trade association MIGA says that tribal casinos are one of the most popular attractions in the entire state – and provide a plethora of benefits to the wider economy.   The latest report from the Minnesota Indian Gaming Association (MIGA) has been released, with claims that the state’s tribal casino industry is the now second most-popular tourism pull in the region. “The...

Asia News: Legislation, Transparency, Grand Prix and Michelin Stars

Asia News Taiwan
Asia News round-up   Macau and Mainland China revise tax contracts to increase transparency Specific areas of tax legislation were revised in a recent meeting between Mainland China and the Macau Special Administrative Region to push for fairer and more transparent taxation in the region. The meeting in Beijing between Secretary for Economy and Finance, Lionel Leong Vai Tac, and the Deputy Administrator...

New betting tax bolsters Panamanian gaming tax haul

Panama Betting Tax
The gaming industry in Panama generated over $128m (E113.7m) in state revenue last year, a senior government official has claimed. Chief of the country’s Gaming Control Board Erick Rios said that the figure represents an improvement of just over a third on the 2014 - and was derived from the operation of 23 casinos and 100 gaming halls in-country. The major...

New tax imposed on Czech slots

Czech Slots
The Czech lower house has given its final approval to a bill that will raise taxes on betting firms from next year. The tax on slot machines will be raised to 35 per cent from 28 per cent, while all other areas like sport betting or lotteries would remain taxed at 23 per cent. This taxation is on top of...