Cambodia’s casino industry contributed one-third more tax over the first nine months of 2016, but it still likely won’t be enough for opposition politicians.
According to a finance ministry report issued on Tuesday, Cambodia had 69 licensed casinos as of September 30. Together, these casinos contributed $37.4m in taxes to the government since January, 35.5% more than in the same period last year. It’s also higher than the $34.7m the government collected in all of 2015.
The report credits the increased tax take to the government’s recent moves to shore up its taxation policies, which include casting a more critical eye on casino operations. The government is still playing coy with its overdue gaming legislation, which is rumored to contain a gambling tax of between 5% and 7%.
NagaCorp’s NagaWorld casino in Phnom Penh is currently required to pay only 2% tax on its gaming revenue, and its tax bill over the first nine months of 2016 totaled $16m, roughly 43% of the total collected. NagaCorp was recently hit with an unexpected demand for an additional $9.4m in taxes on its non-gaming revenue and further demands could be forthcoming.