Malaysia loses nearly RM2bn in tax revenue from online gambling, says Datuk Zahidi Zainul, deputy communications and multimedia minister.
Malaysia.- Although gambling is very popular in Malaysia, the country’s only gaming option other than its three turf clubs and numerous off-track betting facilities is one sole land-based casino. As a result, authorities are constantly fighting against illegal online gambling.
Datuk Zahidi Zainul Abidin, deputy communications and multimedia minister, says that needs to change. He’s warned that the government is losing almost nearly RM2bn in tax revenue annually by not regulating online gambling.
Abidin revealed the government is considering amending the Common Gaming Houses Act 1953 to allow online games involving “betting” and “gift offers” to be regulated. He also said the Ministry of Finance is preparing to review the best tax approach.
Another minister, Datuk Seri Wan Junaidi Tuanku Jaafar in Prime Minister’s Department (Parliament and Law) has previously said that gaming taxes could be used to “to solve many problems… issues with roads, drains and others but the government is unable to do so because it does not have a mechanism.”