3 Nepal casinos owe over US$1.3m in taxes

3 Nepal casinos owe over US$1.3m in taxes

Royalties, renewal fees and additional fees are owed by Central Media, Ratna Services and Venue Creation.

Nepal.- The government of Nepal has reported that it is owed over Rs110m (US$1.3m) in payments from three casinos. According to Republica, the casinos that have not made payments are Central Media in Kathmandu’s Khichapokhari, Ratna Services in Biratnagar, and Venue Creation.

According to data from authorities, Central Media owes Rs80m (US$963,666) in royalty, renovation and additional fees. As a result its licence has not been renewed. Ratna Services Rs20m is expected to pay Rs29m within the next month to fulfil its obligations concerning royalties, renewal, and additional taxes in order to have its licence renewed. Venue Creation’s licence renewal remains pending due to outstanding arrears exceeding Rs10m.

See also: Nepal bans TikTok amid allegations of gambling content

Casino operators must pay 40 per cent by mid-January every year to obtain their renewal, 30 per cent by mid-April and the remaining 30 per cent by mid-July, according to the Finance Bill 2080 BS. The government has collected Rs761.3m in royalties by mid-January of the fiscal year 2023/24.

The DoT has registered 30 casinos, with 13 major venues operating in five-star hotels and 17 mini-casinos operating solely through machines or equipment in four-star hotels.

See also: Nepal: 11 arrested for alleged illegal gambling

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