Casino Taxes rocket in Cambodia

October 20, 2016 taxation in Cambodia

Casino taxesPHNOM PENH – Continued efforts by the Cambodian government to draw in my gambling tourists is paying off, with a significant increase in tax revenues from casinos.

New information released by the Ministry of Economy and Finance of Cambodia has shown that over the first 9 month of the year rose by approximately a third, compared to the same time period last year.

In total USD 37.4 million has been collected in taxes from casinos across the country over the first nine months of the year, approximately 35.5 percent higher than in the previous year.

The Ministry of economy and Finance claimed that the increased tax revenues were a product of continued efforts to “…improving the transparency, efficiency and equity of the tax system and monitoring tax collection more closely.”

It is also believed by some experts that the improved tax revenues are also a result of the government’s continued efforts to draw in tourists to visit the country’s casinos.

Cambodian is unique in that it is one of the only countries in the region to allow legal gambling, however, under current regulations casinos in the country can only be utilised by foreigners.

There are currently 69 official casinos in Cambodia.