Cambodia enacts new laws related to gambling. - page 3.

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Quote from: Vishnu.Reang on December 13, 2020, 08:38:04 AM

Quote from: kramchers on December 13, 2020, 05:35:05 AM

In the first place not all gambling site is legal, still there are some of them are not. When it comes to tax percentage 4% and 7% is much lower compared into other nations anyway. At least in Cambodia it was already regulated and legally operational aside from that it was a great news to all gamblers there too.

I am not sure about this claim. As far as I now, the range given in the article (4% to 7%) is actually on the higher side. It is still a lot better than banning the gambling industry and driving it underground (just like what the Indian government has done). But if they want to attract foreign gamblers, then they should lower the tax rates, to make them attractive for the Chinese and the other foreign nationals.

Whose whoever wanted to continue their gambling business will live no choice but to pay for that said amount. I'm not saying this will serves to have the pursue of closing down the gambling institutions and force people to stop gambling but what I think for this is that the government needs money during this pandemic time. They need support from the community where taxes held as a reliable source as they know that more people got crazy into gambling.

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Quote from: kramchers on December 13, 2020, 05:35:05 AM

In the first place not all gambling site is legal, still there are some of them are not. When it comes to tax percentage 4% and 7% is much lower compared into other nations anyway. At least in Cambodia it was already regulated and legally operational aside from that it was a great news to all gamblers there too.

I am not sure about this claim. As far as I now, the range given in the article (4% to 7%) is actually on the higher side. It is still a lot better than banning the gambling industry and driving it underground (just like what the Indian government has done). But if they want to attract foreign gamblers, then they should lower the tax rates, to make them attractive for the Chinese and the other foreign nationals.

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Quote from: fiulpro on December 10, 2020, 01:55:46 PM

So a good news for all the players from Cambodia , the government is now enacting new laws to make the games more fair for the people. The tax on gaming will be 4% and 7% will be on recreational gaming , which is much less than other countries.
https://www.gamblingnews.com/news/cambodia-introduces-and-enacts-new-gambling-law/
The gambling committee will further look into that matter and at the same time this would mean that players will get a better and fair play which would inturn 11 government ministers who will actually form this law.
They will have a specific favoured zone in which gambling will be permitted. Now these conditions won't just be fair for the government but it would be fair for both the people and the companies involved.
This is a much needed step which every country needs to take soon.

Quote

A new watchdog known as the Integrated Resort Management and Commercial Gambling Committee will be in charge of enforcing the new regulation.

The watchdog will include 11 government ministers to be shortlisted and approved soon. Cambodia will now designate special pre-approved zones where gambling operations can take place as well as assign prohibited areas of operation.

The country will also assign a special “favored zone” status, which means that the government may permit gambling operations there in future.

Cambodia’s new regulatory framework is a first attempt by the country to enforce laws that allow authorities to regulate gambling with fairness and seek fairer gaming conditions for everyone.

What are your thoughts on this ?
Should such actions be taken by other countries too ? What's stopping them though?

In the first place not all gambling site is legal, still there are some of them are not. When it comes to tax percentage 4% and 7% is much lower compared into other nations anyway. At least in Cambodia it was already regulated and legally operational aside from that it was a great news to all gamblers there too.

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Quote from: Sithara007 on December 12, 2020, 10:34:53 PM

Quote from: Shasha80 on December 12, 2020, 07:21:28 PM

Good news for Cambodian residents who really like gambling, because the taxes they have to pay are low compared to other countries.
Perhaps the government of Cambodia realizes that the income of the people of Cambodia as a third world country is not very good,
so the tax imposed is adjusted to the income of the people of Cambodia. Moreover, with the enactment of new laws related to gambling,
making gambling in Cambodia can be an attraction for tourists who want to vacation and play gambling. If this happens, it will increase
the revenue of the Cambodian government.

Cambodia is probably the poorest country in South-east Asia, and few of the nations can afford to visit the casinos. Most of the gamblers in Cambodia are from China, and to an extent from other countries such as Taiwan and Japan. The government gains in the form of tax revenue, and the locals are also benefiting in the form of additional well-paying jobs.

Since Cambodia is a poor country a gambling tax of 4 -7 % will also be considered as a good amount of money tax. Also, if anyone plays online anonymously using bitcoin and cryptocurrencies', he will not have to give any tax because he cannot be traced. Is it rite or Cambodia government will try to find out the online gamblers with the help on ISPs (internet Service Providers).

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Quote from: Alucard1 on December 13, 2020, 03:23:43 AM

This is a good move for Cambodia, they let their countries benefit from their decision. They know that gambling could give good them a positive result for their economy which is really true and I am really impressed with that because in our country they don't even see the positive sides that gambling can give to us, they only see it as a negative that may give some negative impact for every gambler that is why gambling is still considered as illegal in our country.

People want to gamble no matter what, if it's legal or not. If the government doesn't allow gambling in a country it will just move into the underground and happen in private casinos without the government noticing. One bad thing of that practice is that the government is getting no tax revenues. A low gambling tax is optimal as it encourages foreign gambler to come to the country which will also spend money in other sectors, like tourism or shopping. In my opinion there is only upside potential for a well regulated gambling sector in a country.

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I think that the legalization of gambling in Cambodia is a positive measure aimed at bringing gambling business from the shadow to the regulated turnover. The idea is that such changes should increase revenues to the budget of the country and improve the lives of citizens. How things will actually be, we will know only in a few years.

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All I know is gambling is illegal in Cambodia but by changing their laws that benefit their gamblers operators, can only mean that they are changing their direction and wants to focus on their tourism and adding more revenues through gambling, many country will implement this kind of laws and they want to take this opporturnity to be a step ahead.

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This is a good move for Cambodia, they let their countries benefit from their decision. They know that gambling could give good them a positive result for their economy which is really true and I am really impressed with that because in our country they don't even see the positive sides that gambling can give to us, they only see it as a negative that may give some negative impact for every gambler that is why gambling is still considered as illegal in our country.

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Quote from: carlisle1 on December 12, 2020, 10:56:34 PM

Quote from: Sithara007 on December 12, 2020, 10:34:53 PM

Quote from: Shasha80 on December 12, 2020, 07:21:28 PM

Good news for Cambodian residents who really like gambling, because the taxes they have to pay are low compared to other countries.
Perhaps the government of Cambodia realizes that the income of the people of Cambodia as a third world country is not very good,
so the tax imposed is adjusted to the income of the people of Cambodia. Moreover, with the enactment of new laws related to gambling,
making gambling in Cambodia can be an attraction for tourists who want to vacation and play gambling. If this happens, it will increase
the revenue of the Cambodian government.

Cambodia is probably the poorest country in South-east Asia, and few of the nations can afford to visit the casinos. Most of the gamblers in Cambodia are from China, and to an extent from other countries such as Taiwan and Japan. The government gains in the form of tax revenue, and the locals are also benefiting in the form of additional well-paying jobs.

It is Myanmar(Burma) is the Poorest country in southeast Asia and Second is Cambodia Followed by Timor-Leste according to the 2019 economic report

https://www.worldatlas.com/articles/the-richest-and-poorest-countries-of-southeast-asia.html

But yeah they maybe the poorest when it comes to Gambling hosting country as they have hosted a Poker competition sometime.

THis more will try to attract more gambling businesses and gamblers from local to tourists.

Hope to have good outcome.

Atleast their government is trying something to bring revenue to their economy from outside of their country but many government tries to increase the tax rate simply to make more money whenever they need it.

Cambodia is poorest but I guess that place is filked with natural resources so if they are good at producing valuable things then they can make good money as well.

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Quote from: Sithara007 on December 12, 2020, 10:34:53 PM

Quote from: Shasha80 on December 12, 2020, 07:21:28 PM

Good news for Cambodian residents who really like gambling, because the taxes they have to pay are low compared to other countries.
Perhaps the government of Cambodia realizes that the income of the people of Cambodia as a third world country is not very good,
so the tax imposed is adjusted to the income of the people of Cambodia. Moreover, with the enactment of new laws related to gambling,
making gambling in Cambodia can be an attraction for tourists who want to vacation and play gambling. If this happens, it will increase
the revenue of the Cambodian government.

Cambodia is probably the poorest country in South-east Asia, and few of the nations can afford to visit the casinos. Most of the gamblers in Cambodia are from China, and to an extent from other countries such as Taiwan and Japan. The government gains in the form of tax revenue, and the locals are also benefiting in the form of additional well-paying jobs.

It is Myanmar(Burma) is the Poorest country in southeast Asia and Second is Cambodia Followed by Timor-Leste according to the 2019 economic report

https://www.worldatlas.com/articles/the-richest-and-poorest-countries-of-southeast-asia.html

But yeah they maybe the poorest when it comes to Gambling hosting country as they have hosted a Poker competition sometime.

THis more will try to attract more gambling businesses and gamblers from local to tourists.

Hope to have good outcome.

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Quote from: Shasha80 on December 12, 2020, 07:21:28 PM

Good news for Cambodian residents who really like gambling, because the taxes they have to pay are low compared to other countries.
Perhaps the government of Cambodia realizes that the income of the people of Cambodia as a third world country is not very good,
so the tax imposed is adjusted to the income of the people of Cambodia. Moreover, with the enactment of new laws related to gambling,
making gambling in Cambodia can be an attraction for tourists who want to vacation and play gambling. If this happens, it will increase
the revenue of the Cambodian government.

Cambodia is probably the poorest country in South-east Asia, and few of the nations can afford to visit the casinos. Most of the gamblers in Cambodia are from China, and to an extent from other countries such as Taiwan and Japan. The government gains in the form of tax revenue, and the locals are also benefiting in the form of additional well-paying jobs.

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Quote from: Shasha80 on December 12, 2020, 07:21:28 PM

Good news for Cambodian residents who really like gambling, because the taxes they have to pay are low compared to other countries.
Perhaps the government of Cambodia realizes that the income of the people of Cambodia as a third world country is not very good,
so the tax imposed is adjusted to the income of the people of Cambodia. Moreover, with the enactment of new laws related to gambling,
making gambling in Cambodia can be an attraction for tourists who want to vacation and play gambling. If this happens, it will increase
the revenue of the Cambodian government.

They have to adjust to see what will works for both ends, the government will gain from this and the citizen will enjoy plus they'll be able to attract tourist to gamble around, from that start many things in terms on business side that will be open for them. Good thing to think about it as imposed taxes is really well from this industry.

Expect that not only tourist but the citizen itself is no need to travel just to enjoy the luxuries
of this types of entertainment, they have it now and they'll be enjoying evrything.

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Quote from: Nellayar on December 12, 2020, 05:24:36 PM

I don't really know what is wrong with gambling, as if other officials in banned countries does not playing gambling. In my country, we are neutralize about gambling. In fact, there is a government agency here that regulates all of gambling site or games. There are gambling games which banned in my country but not all of them. I am happy for the legalisation of Cambodia in gambling. And it is my bad to know how government of India treated the gambling industry. It just prove that India is still close to culture and religion.

Well some people (or governments) prefer to just simply run away from responsibilities, and the easiest way to do that is to remove the source of where those responsibilities came from. Gambling isn't really a problematic issue, but due to the way it's growth went, the community itself (or rather those who got addicted) lead to some unfavorable impressions towards those non-gamblers, which made it an issue. And mental state guidance isn't really an easy issue to manage. The risk of people getting addicted, and then getting reported is a pain in the ass for some ngl, and enacting laws that would satisfy both gamblers and both the common populace seems like a difficult issue for them, which is true, but they just refuse to think of about it anymore.

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Good news for Cambodian residents who really like gambling, because the taxes they have to pay are low compared to other countries.
Perhaps the government of Cambodia realizes that the income of the people of Cambodia as a third world country is not very good,
so the tax imposed is adjusted to the income of the people of Cambodia. Moreover, with the enactment of new laws related to gambling,
making gambling in Cambodia can be an attraction for tourists who want to vacation and play gambling. If this happens, it will increase
the revenue of the Cambodian government.

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After Macau, there is a possibility that Cambodia is going to be the next destination for tourist gamblers.
There is one other country that most Asian tourist gamblers are going with this, they are securing each of them to be a good place for gamblers.
Japan is also a good one but tax is higher although it is also welcoming.

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If this is true and implemented in the quickest time possible Cambodia may just beome the newest Las Vegas of Asia. This will not only boost the popularity of gambling in the country, but would also spearhead gambling-induced tourism. So it's a win-situation for Cambodia really, considering they can just get the losses back from the millions of dollars tourists will cash in to the government.

Quote from: ecnalubma on December 12, 2020, 12:51:13 PM

Only foreign gamblers will enjoy these benefits mostly the Chinese gamblers. As country depending businesses revenues their actions matters most especially in reviving their economy, Cambodia’s move is not different from other countries depending on gambling tax revenues, gambling tax revenues don’t just easily drop it is one of the strongest industry.

Some people who lost their jobs found fortune in gambling, so we can't really excuse gambling out of this just because everyone had it bad due to the pandemic. We may as well expect Americans or Europeans investing or gambling in Cambodia.

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Quote from: Sithara007 on December 10, 2020, 10:14:06 PM

I still believe that 7% is on the higher side, as most of the other nations have lower taxes. But I must congratulate the Cambodian government for the fact that they have legalized and regulated the gambling industry there. Here in India, the government is refusing to do that and as a result the gambling is mostly done underground away from the eyes of the government authorities.

I don't really know what is wrong with gambling, as if other officials in banned countries does not playing gambling. In my country, we are neutralize about gambling. In fact, there is a government agency here that regulates all of gambling site or games. There are gambling games which banned in my country but not all of them. I am happy for the legalisation of Cambodia in gambling. And it is my bad to know how government of India treated the gambling industry. It just prove that India is still close to culture and religion.

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Quote from: abhiseshakana on December 12, 2020, 04:42:02 PM

Quote from: Genemind on December 12, 2020, 03:40:26 PM

Gambling taxes help thw government a lot since gambling had been part of any countries culture. In our country Casinos attract tourists which also helps give employment and taxes. Having a lower tax for gambling would encourage players to play more, which is good for the government, however the down side is more people would sped time and money in gambling.

Of course, with lower taxes compared to surrounding Asian countries (5% -15% in Singapore, 35% in Malaysia, 35% in Vietnam, and 39% in Macau), Cambodia can attract more tourists so that the entertainment sector outside of gambling will also get income.

Additionally, this will also make Cambodia more competitive in the global gambling industry, so it would be very common if many potential foreign investors (in the gambling industry) would be interested to make investments in Cambodia.

Would really be having that chain effect specially if they would really be that much lower when it comes to taxation specially with gambling business owners tend to make one in that country.
That will surely create some interest into those foreign investors and in result then that would really be a positive impact towards into their economy.Good thing that they had changed up their
minds on reverting their laws towards gambling industry specially now that most economy are going on reds which it is really that much of a sense for them on letting gambling laws to be
on the positive side.

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Quote from: Genemind on December 12, 2020, 03:40:26 PM

Gambling taxes help thw government a lot since gambling had been part of any countries culture. In our country Casinos attract tourists which also helps give employment and taxes. Having a lower tax for gambling would encourage players to play more, which is good for the government, however the down side is more people would sped time and money in gambling.

Of course, with lower taxes compared to surrounding Asian countries (5% -15% in Singapore, 35% in Malaysia, 35% in Vietnam, and 39% in Macau), Cambodia can attract more tourists so that the entertainment sector outside of gambling will also get income.

Additionally, this will also make Cambodia more competitive in the global gambling industry, so it would be very common if many potential foreign investors (in the gambling industry) would be interested to make investments in Cambodia.

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Quote from: Genemind on December 12, 2020, 03:40:26 PM

Quote from: Sithara007 on December 10, 2020, 10:14:06 PM

I still believe that 7% is on the higher side, as most of the other nations have lower taxes. But I must congratulate the Cambodian government for the fact that they have legalized and regulated the gambling industry there. Here in India, the government is refusing to do that and as a result the gambling is mostly done underground away from the eyes of the government authorities.

Gambling taxes help thw government a lot since gambling had been part of any countries culture. In our country Casinos attract tourists which also helps give employment and taxes. Having a lower tax for gambling would encourage players to play more, which is good for the government, however the down side is more people would sped time and money in gambling.

Now, it is up to the individual if he will be hooked up into gambling especially if he can't afford to this kind of lifestyle. But I'm fine with the government extracting revenue from these casinos. This will aid in the economic recovery of every country. As people want to gamble, then, better get a tax from it. If he doesn't want to give tax, then don't gamble. Plain and simple. Tongue

Topic: Cambodia enacts new laws related to gambling. - page 3. (Read 776 times)