Malaysia takes back taxing proposal

Malaysia

Malaysia gaming tax is being reviewed.

Whilst the government of Malaysia is evaluating a gaming tax increase, it is not likely to be approved.

Malaysia.- After announcing a potential increase in the national gaming tax, the government of Malaysia decided to reevaluate the measure and investigate further ways to boost the national revenue. According to latest news, Malaysian authorities would finally dismiss the measure aiming at raising the fees paid by licensed gaming operators.

The statement suggesting the government’s alleged final decision was published by AmBank group chief economist Anthony Dass. In a 2018 Budget Preview, Dass commented that he believes Genting Malaysia achieved something with the government by proposing to spend around up to 10 billion in local money in the Genting Integrated Tourism Plan (GITP) at Resorts World Genting.

Furthermore, the government is considering the creation of a new national entity to specifically control and regulate the gaming industry. The measure was announced last month by the Deputy Prime Minister Ahmad Zahid Hamidi, who also revealed the beginning of major crackdowns on reported platforms.

The casino industry has also been part of a national investigation of economic trades in the foreign-currency market. The Malaysian central bank will publish this week the details of operators who have been found guilty of financial irregularities.