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Malaysia – Resorts World Genting facing tax hike

By - 3 October 2013

Resorts World Genting, previously known as Genting Highlands, Genting’s original mountain top- resort casino could be facing a tax hike on its profits in the upcoming Budget 2014.

It would mark the first time that the Government has revised gaming taxation since 1998 when it increased what it took from 22 per cent to 25 per cent.

The Government is looking at gaming to help reduce the country’s budget deficit, which in 2012 came in at 4.5 per cent of GDP.

Research group RHB said: “We believe there is a possibility of an upward revision in gaming taxes when Budget 2014 is unveiled on October25 as the Government explores ways to beef up its coffers.”

RHB believes that the gaming business contributed between RM2.3bn to RM2.7bn to the Government’s tax revenue in 2012.

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