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Tag: Tax

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amendments to the Betting, Lotteries and Gaming Act, that would lead to the lessening of revenue taxation but saw these withdrawn...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

PANAMA
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 - Kenyan gambling industry tax hike kenya
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 - Kenyan gambling industry tax hike kenya
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...

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