Legislation
Nepal – Nepal to enact new laws to force full royalty payments
By Phil - 5 June 2018
The government in Nepal has confirmed it will be drafting new casino legislation to try and prompt more foreign investment into the sector and to stop existing casinos operating ‘unlawfully.’
The new laws will also force existing casinos to comply with tax and royalty payments. It will replace an interim order issued by the Supreme Court in 2016 that has meant casinos don’t get shut down if they pay a share of what they owe.
Tourism Ministry spokesman Ghanshyam Upadhyay said: “We will be submitting a draft to the Cabinet next week for its approval in principle to prepare a Casino Bill 2018. The Law Ministry has given its okay to a preliminary draft. After the Cabinet’s approval, we will begin to draft the bill. The move to introduce the Casino Act is to enhance investment and employment in the industry which is expected to grow.”
Seven casinos are currently running in the country with another three still open due to the court order.
