ldquo;We really need to get this law off the ground fast because it will help us manage the [gaming] industry better and also collect taxes. In addition, it will also attract more big investors into the industry and also bring in tourists,” explained Senior Finance Ministry official, Ros Phearun, in a report quoted by Khmer Times website.
Phearun said that at the end of last year 77 casino licenses were issued by the country, but only 65 are active.
The new gaming legislation will include gambling tax of between 4% and 5% of total gaming revenue, almost the same as the tax payable by casinos in Singapore. The proposed law also authorizes the government to establish the Gaming Management Committee, which will review the adequacy of internal financial controls as well as the prevention of money laundering and other criminal activities.
According to official data, the government of Cambodia collected some $48 million from the gaming industry during 2016, a big increase of around 40% percent compared to the previous year.