Tag Archives: tax
Cambodia – Closures see Cambodia’s tax revenue halved in 2020
Tax from Cambodia’s 193 licensed casinos dropped by over 50 per cent in 2020 from US$85m in 2019 to US$40m in 2020. Cambodia’s casinos were closed from April 2 2020 with some reopening in August and others in October. In November, Cambodia approved new legislation on the Management of Integrated Resorts and Commercial Gambling (LMCG),…
Ukraine – Ukraine approves flat ten per cent tax rate across all gambling verticals
Ukraine’s Committee on Finance, Tax and Customs Policy has approved a flat 10 per cent tax rate across all forms of gambling. Committee chair Oleg Marusyak presented the bill to go with the Gambling Act signed into law in August 2020. Initially different components of gambling were to be taxed at different rates with a…
Russia – Russia launches bill to unify its gaming regulators and increase betting tax
Russia’s State Duma is to vote on a proposal to set up a new national regulator which would control and regulate the whole Russian gambling industry. The bill was introduced by Viktor Deryabkin and Igor Stankevich of the governing United Russia party, was put before the State Duma Committee on Economic Policy, Industry, Innovative Development…
Poland – Coronavirus takes huge slice out of Poland’s gambling tax
Poland’s government took a hit from the lack of sports betting with tax revenue for the last three months down 21 per cent to PLN450m (US$121.6m). The Ministry of Finance said the decline was more than one-quarter below 2020’s first quarter tax level. State-run lotteries generated the biggest amount of tax PLN176m, down 16.7 per…
US – Michigan’s online sports betting could generate $93m in first-year tax
Sports betting and online casinos could produce as much as $93m in first-year tax revenue in Michigan, according to projections from MichiganSharp.com. The first of Michigan’s online sports betting and casino platforms might launch by the end of 2020. This sets the stage for Michigan to become one of the top online gambling states in…
US – AGA welcomes new laws to repeal federal excise and head taxes
The American Gaming Association (AGA) has supported bipartisan legislation Reps. Dina Titus (NV-01) and Guy Reschenthaler’s (PA-14) move to introduce new laws to repeal federal excise and head taxes. The Internal Revenue Code requires regulated sports betting operators to pay a 0.25 per cent federal excise tax on all wagers, in addition to a $50…
US – Michigan loses out on $100m in tax revenue from casinos closing
The closure of Michigan’s 26 casinos cost state and local governments nearly $100m in tax revenue during the first three months of the shutdowns, according to a new analysis by PlayMichigan. As Michigan moves toward reopening its 26 casinos, PlayMichigan’s new analysis shows just how much revenue ground has been lost over the last three…
US – Atlantic City’s nine casinos to get tax breaks for one year after they reopen
Atlantic City’s casinos are to get tax breaks for a whole year once they reopen with New Jersey’s upper house passing a series of temporary laws to help the sector bounce back from the effects of the coronavirus pandemic. The bill, S2400, also abolishes hotel fees until the end of 2020 and creates a $100m…
India – Goa casino Director calls for three-year tax break
The director of Casino Pride Goa, one of Goa’s largest floating casinos, wants a three year tax holiday and a six-month waiver on interest charges approved by the government, to allow the casino sector a chance of survival following the coronavirus pandemic All of Goa’s casinos, including its six floating casinos on the Mandovi River,…
