Laos gaming taxes to be raised

The government of Laos is pushing a bill to increase gaming taxes through a levy on casinos and casino gaming.

Laos.- The gaming industry is often considered as a major cash register to take money from. That’s why the Laos government may rise gaming taxes through a recently introduced draft law.

Deputy Prime Minister and Minister of Finance Somdy Douangdy introduced the bill to the Lao National Assembly, Vientiane Times reported. The levy on casinos and casino gaming would increase by 15%, up from 35% to 50% as of January 2020.

The government is looking to change several regimes on a major piece of legislation. That would heavily impact the Laos gaming industry with increased taxes.

The proposal is part of many taxation increases to products and services the authorities consider “unnecessary.”

New gaming taxes in the CNMI as well

The Northern Mariana Islands continue to draw interest as Imperial Pacific International (IPI) develops a major venue. However, certain legislation changes would impact the business, with a new gambling tax.

Representative Tina Sablan filed a bill to set a new gambling tax in the region, at 10% on net revenue. The other one, by House Gaming Committee Chairman Ralph Yumul is set to prevent IPI from writing off unpaid credit from its tax obligations.

“No deduction shall be allowed from gross revenues for the unpaid balance of any obligation or credit extended for gambling or gaming,” Yumul’s bill states.

Furthermore, it determines that “making loans or extending credit for the purpose of gambling can foster problem gambling.”

Legislation would “discourage lending for the purpose of gambling by providing that unpaid balances on loans extended for gambling shall not be deducted from gross revenues.”

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