Cambodia places $16.6M additional tax burden on NagaCorp’s shoulders

The Cambodian government has handed the country’s top casino operator NagaCorp. an additional $16.6 million tax bill on its non-gaming operations.

According to Phonm Penhn Post, the Cambodian government came up with the hefty tax burden after it conducted its first-ever audit of the iconic Phnom Penh hotel and casino complex. The tax obligation was reportedly similar to the one that the government imposed on the casino operator last year.

The announcement from the Cambodian government comes just days after NagaCorp reported that it posted a $150.6 million net profit in the first six months of the year due to robust growth across all of its business segments.

Though the final number is still subject to negotiation, Ministry of Economy and Finance (MEF)  deputy director-general for finance industry department Ros Phirun pointed out that the annual bill of NagaWorld in non-gaming revenue taxes starting this year is $16.6 million.