Tag Archives: Taxation
Trinidad and Tobago – Trinidad and Tobago looks to generate taxes of TT$2bn by better regulating existing gambling
Senators in Trinidad and Tobago have approved the Gambling (Gaming and Betting) Control Bill, 2021, as it looks to generate TT$2bn from various taxes on casino-style gambling. By regulating and taxing the industry it will generate tax revenues from the cost of gaming licences, taxes on table games and customs duty on imported gambling tables/devices…
Portugal – Portugal’s casinos exempt from gambling tax until 2022 with licences renewed
The Portuguese Government has ruled that casinos won’t have to pay any annual fees on gambling revenues until 2022. The Ministry of Economy said that the effects of the pandemic ‘make existing contracts unenforceable.’ The Executive and the Portuguese Association of Casinos (APC) are currently negotiating ‘the appropriate framework to manage the impact of the…
Argentina – Budget proposal for 150 per cent increase in online gaming tax gets further approval
The Argentine Chamber of Deputies has approved an increase in the level of taxation on online gaming from two to five per cent proposed in the National budget written by Economy Minister MartÃn Guzmán. The new rate will come into effect in 2021. Economy Minister MartÃn Guzmán said: “This is a key step in our…
Argentina – One-off gaming tax could be applied in Buenos Aires
Buenos Aires is considering a one-off income tax of one per cent on banks and gambling operators to help fund action to fight against the coronavirus pandemic. The tax would only apply to companies that generated more than $450,000 in gross income in 2019 and would be used to fund sanitary actions and social programs…
Spain – Madrid to lessen coronavirus impact with 25 per cent tax reduction for gaming
Madrid will reduce gaming taxation as the City Council looks to protect the economy from the effects of the coronavirus. The 25 per cent reduction in tax will apply for casinos, bingo halls, and slot halls and will be eligible for 25 months. A spokesperson at the City Council said: “The only criteria is that…
Mexico – Caliente says new taxes will cripple tourism economy
The President of the Caliente Group and the former mayor of Tijuana, Jorge Hank Rhon has criticised new taxes on gaming in the state of Baja California and warned of the damage it will cause to the economy, especially to tourism. Mr. Rhon argued that for the gaming sector the new taxes puts it at…
US – Oklahoma’s casinos stay open despite Governor’s warning
Oklahoma’s 100-plus tribal casinos remained open as the clock struck midnight on New Year’s Eve, flying in the face of Governor Kevin Stitt’s warning that the gaming compacts expired on January 1 and that casino gambling after that date will be illegal. Muscogee Principal Chief James Floyd, who operates River Spirit Casino Resort in Tulsa,…
Kenya – New taxation forces SportPesa out of Kenyan sports betting
New levels of taxation have forced sports betting company SportPesa out of Kenya. The Nairobi-based company warned that the new 20 per cent tax, up from ten per cent, will force a decline in revenues for the government and could force some parts of the industry underground. It described the regulatory landscape in Kenya as…
Argentina – Buenos Aires governor scraps tax on slot machine winnings
The governor of the province of Buenos Aires, MarÃa Eugenia Vidal, has suspended a gaming tax that was created in December last year. The resolution has been signed by the head of the Provincial Institute of Lottery and Casinos (IPLyC), MatÃas Lanusse, and proposes the end of the 3 per cent tax on the prizes…
