Cambodia’s new gaming law will include a 7 per cent tax on gross gaming revenue (GGR).
Cambodia.- Cambodia’s new gaming law will include a 7 per cent tax on gross gaming revenue (GGR), while locals will continue to be barred from gambling.
The new legislation, which aims to attract investments from the gaming sector, will include a 7 per cent tax on GGR coming from mass players and of 4 per cent for VIP revenues, unless casino operators are integrated resorts.
New casinos will have to be at least 200 kilometres away from the capital Phnom Penh and a new regulatory body will be created to oversee the sector.
After receiving the go ahead from the Council of Ministers, the law will now be reviewed by the National Assembly and the Senate. The final step is promulgation by the king.
Another new regulation makes casinos reporting entities for the prevention of money laundering and terrorism financing in the country.
They are currently 193 licensed casinos in Cambodia although gambling is banned for Cambodian residents.