Cambodia has started operating its already-flagged new casino taxation system based on gaming revenue, rather than on lump-sum payments, it was reported on Monday.
The Khmer Times said – citing Mey Vann, secretary of state at the Ministry of Economy and Finance – that a so-called self-declaration system for casino venues had begun on December 30.
The Law on the Management of Commercial Gambling was promulgated in November 2020. It mentions that casinos located inside integrated resorts would be subject to 4 percent tax on VIP gaming income; and 7 percent for mass-market gaming income. Casinos in venues other than integrated resorts would pay a flat 7 percent rate on gaming income.
Gaming income is defined as total gross revenue from all the gambling activities of the casino minus winnings of the guests.
The Khmer Times said in its Monday report, citing the ministry official, that the activation of the law’s provisions would improve transparency and accountability in tax collection from the commercial gambling industry in Cambodia.
“This means that there would no longer be cases of hiding cash to be paid to the authority even by the casino owners and tax officials as the rules and procedures determine check-and-balance practices,” said the official as cited by the news outlet.
In November 2020, Tim McNally, chairman of Hong Kong-listed NagaCorp Ltd, operator of the Cambodian capital Phnom Penh’s only permitted casino resort, told GGRAsia the firm was “pleased” that a “a reasonable approach continues with the new law” on casino gaming in that country, with regard to taxation.
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