NagaCorp will contribute with US$16.6 million under new tax legislation.
Cambodia.- Cambodian government announced a new possible raise on tax payments for NagaWorld Hotel & Entertainment Complex during this year’s operations. The local casino company could contribute to national economy with additional US$16.6 million due to a non-gaming tax.
Casino operator NagaCorp was notified by the government about the tax plan. The Deputy Director-General of the Ministry’s Finance Industry Department Ros Phirun confirmed the raise and said to Casino News Daily that the final payment would be discussed in the following months. Authorities expect a further negotiation soon.
The Cambodian government also established further agreements with major casino company in the country, NagaCorp, which helped boost tax payments. “Now, we have more from NagaWorld since they complied with our requirement to pay on non-gaming revenue,” explained in March Ros Phearun, a deputy director-general of the Finance Ministry’s financial industry department.
NagaCorp announced in Hong Kong on Tuesday that the Naga2 complex set to open in Phnom Penh, Cambodia, in October, will double its gaming capacity, as the company is focusing on a rise in high-roller betting.