Cambodia enacts new laws related to gambling. - page 4.

Genemind

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Quote from: Sithara007 on December 10, 2020, 11:14:06 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.

Lordhermes

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Quote from: ecnalubma on December 12, 2020, 01:51:13 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.

Maybe the Cambodian government knew its going to generate more income to the government revenue more than expected before, now its I think its a major priority for a country now to create a gambling platform as a means of generating revenue to her citizens in respect to the economic situation level. At least Cambodian government must have regretted a little for a while before enacting this new law towards gambling.

hahay

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Even though it's good for Cambodia but with still a lot of controversy about gambling itself in other countries, then I think each rule will always have differences regarding gambling in each country. Having them set a favorite zone is a good thing because then at least gambling can be more controlled by the government. I'm not sure taxes will make many people avoid gambling, so it doesn't seem like a tax issue because what's important is the rules with clear laws about gambling itself.

ecnalubma

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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.

Becky666

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Quote from: aioc on December 12, 2020, 12:19:25 PM

It's not the cut in taxes that is a main news but creating a special or specific favoured zone in which gambling will be permitted, this encourage establishment of more gambling establishment and tourist attraction, the gambling tourism is a multi billion dollar industry and they want a slice of it.

Candidly, the 7% is nothing compare to what the government has done in the land, in respect of this news. A reasonable government will put forth the interest of the citizens before self, this is what the government of Cambodia has done, and kudos to the government. Gambling industry are doing wonders in term of revenue generation and a country that sees this will surely overcome the economy crisis looming the world. Believe me, tourist and well recognize gambling industries will start flowing into Cambodia to secure a place for company establishment, my country won't encourage such becasue of her religion attitudes.

aioc

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It's not the cut in taxes that is a main news but creating a special or specific favoured zone in which gambling will be permitted, this encourage establishment of more gambling establishment and tourist attraction, the gambling tourism is a multi billion dollar industry and they want a slice of it.

john_nautica

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Quote from: fiulpro on December 10, 2020, 02:55:46 PM

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

Some countries are now encouraged to regulate online gambling as this have seen to be an additional venue for revenue generation. This then could be of significant support to the barely surviving economy brought about by the pandemic. If all countries would be abiding to this, regulating online casinos would not only help the economy but would also add to the security of the gamblers as they are protected under the government’s watch.

pilosopotasyo

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Quote from: perla on December 12, 2020, 09:55:41 AM

Yes the government are now looking at the online gambling to have some extra revenue I think this is not the first time I read about this kind of topic I think I've read already two or three same topic already from different countries.

They have seen what online gaming can do at the times of pandemic, they are the only profitable industry and they contributed a lot to the government because of their taxes, so countries has seen these opportunity and they are enacting laws that will support these industries because they also can make profit from online gambling revenues in the form of taxes.

crzy

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Lowering the tax is a great strategy to boost their economy and to encourage more gambler to pay and worry no more about paying huge taxes. Well, it will be more great if they are now starting to adopt cryptocurrency and accept gamblers from crypto world. Every government are now helping their own people to survive and in order for them to do this, they must favor the terms to its people and in return, more taxes will be collected for sure. Anyway, this is indeed a great news and hopefully more countries will do the same thing or will do better than this.

perla

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Quote from: 24Kt on December 11, 2020, 04:52:20 PM

Quote from: avikz on December 11, 2020, 12:35:11 PM

Possibly Combodia is eying to increase their market share in travel and tourism industry. Decreasing gaming tax is definitely one of the steps towards this goal so that travel and tourism industry can keep a bigger portion of their earning for their own betterment! It is a baby step but an effective one!

Also creating a special zone for such activities is another step towards the bigger goal. The way countries create special economic zones for factories and industries, Combodia is following the same practice for travel industry! Hope this works in their favor to recover the economy!

Maybe, this will entice tourists to gamble in their country. Been there in that country but that was a long time ago and didn't try to go to their gambling house. So don't know the actual impact of this new law to its citizens. Anyway, governments are now looking for options how to get back on their feet and reviving their tourism industry is one of them.

Pandemic has changed a lot of things and government would be now looking for new sources of revenue so making gambling legal, crypto legal etc would be just some of the options for them where they can get good revenue as well gambling could attract tourists as well. So this is a good change which government is working and making necessary changes in their laws.

Yes the government are now looking at the online gambling to have some extra revenue I think this is not the first time I read about this kind of topic I think I've read already two or three same topic already from different countries.

plvbob0070

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It's a good thing that they are positively updating their gambling regulations since it will be fairer to the gamblers. Both sides will benefit from it, including the gamblers with lower tax, casino owners since it will attract more customers, and the government from the tax revenue. I have been recently seeing news where the government is trying to improve its gambling regulations, and I think one reason is that they are trying to recover their economy. And I believe this is a good decision by the Cambodian government.

Xinarae*

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Although Cambodia has enacted new laws on gambling many are unaware of it. The demand for tourists is much higher here than gambling. If the government attracts tourists because of the temple the government can quickly attract tourists through legal and regulatory casinos. More tourists means more foreign exchange earnings. The government can earn money directly from casinos and by taxing money won in gambling. Successfully run casinos through the legal process can directly and indirectly increase employment in a country. If the investment in gambling is more the income of the government will also increase.

FontSeli

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Quote from: fiulpro on December 10, 2020, 02:55:46 PM

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

I think that the legal regulation of gambling should be in any country. This is what helps regulate the wild market and bring order to it. In any case, this should benefit ordinary people and protect them from fraudulent casinos and other gambling establishments. The main thing is that the body that sets the rules monitors their compliance.

maydna

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Quote from: 24Kt on December 11, 2020, 04:52:20 PM

Quote from: avikz on December 11, 2020, 12:35:11 PM

Possibly Combodia is eying to increase their market share in travel and tourism industry. Decreasing gaming tax is definitely one of the steps towards this goal so that travel and tourism industry can keep a bigger portion of their earning for their own betterment! It is a baby step but an effective one!

Also creating a special zone for such activities is another step towards the bigger goal. The way countries create special economic zones for factories and industries, Combodia is following the same practice for travel industry! Hope this works in their favor to recover the economy!

Maybe, this will entice tourists to gamble in their country. Been there in that country but that was a long time ago and didn't try to go to their gambling house. So don't know the actual impact of this new law to its citizens. Anyway, governments are now looking for options how to get back on their feet and reviving their tourism industry is one of them.

We will see the actual impact soon after the lockdown is fully lifted because we are still pandemic. Perhaps, local people will try that before the government can entice tourists to come to their country. If the result is good, the government will be sure to reopen their tourism to their country and follow the health protocols.

Reviving the country again will not easy as every country have the hardest situations for months. But I am sure that we will pass these situations, and the government is still trying to hard work for their best.

Sithara007

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Quote from: 24Kt on December 11, 2020, 04:52:20 PM

Maybe, this will entice tourists to gamble in their country. Been there in that country but that was a long time ago and didn't try to go to their gambling house. So don't know the actual impact of this new law to its citizens. Anyway, governments are now looking for options how to get back on their feet and reviving their tourism industry is one of them.

Only very recently Cambodia started receiving huge numbers of foreign tourists. Most of them are not interested in gambling, but are more in to ancient temples and other cultural symbols. Angkor Wat is one of the most famous tourist destinations in Cambodia and is very popular with tourists in India since it is the largest Hindu temple in the world. Now they want to attract other type of tourists as well, and that is good news for the economy of the country.

24Kt

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Quote from: avikz on December 11, 2020, 12:35:11 PM

Possibly Combodia is eying to increase their market share in travel and tourism industry. Decreasing gaming tax is definitely one of the steps towards this goal so that travel and tourism industry can keep a bigger portion of their earning for their own betterment! It is a baby step but an effective one!

Also creating a special zone for such activities is another step towards the bigger goal. The way countries create special economic zones for factories and industries, Combodia is following the same practice for travel industry! Hope this works in their favor to recover the economy!

Maybe, this will entice tourists to gamble in their country. Been there in that country but that was a long time ago and didn't try to go to their gambling house. So don't know the actual impact of this new law to its citizens. Anyway, governments are now looking for options how to get back on their feet and reviving their tourism industry is one of them.

coupable

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Quote from: robelneo on December 11, 2020, 07:40:33 AM

That's the biggest turn around according to Wikipedia

Quote

Gambling in Cambodia is officially illegal under the 1996 Law on Suppression of Gambling, which outlawed all unauthorized forms of gambling and provided for penalties ranging from monetary fines to short prison sentences, although the Cambodian government's General Department of Prisons does not list gambling as one of the 28 offenses punishable by imprisonment.

Now they want to be gambling friendly country and they created news laws and special zone to make gambling attractive to foreigners, they want to strengthen their tourism because tourists like to visit countries with gambling casinos, and they are also giving livelihood and employment too with these new laws.

In the majority of cases, i find it strange why a poor country [under-developement] classify Gambling as an illegal activity. Just like the use of medical cannabis. Cambodia needs as much revenue ressources so it's a wise move to bring into scene an activity that broke the laws beehind scenes. But what to do with people use crypto in gambling?
In my country, the tax is 25% but i still think that 7% is in the high side.
Cambodian gamblers won't easly follow the flow and will look for other solution to not pay any tax. This will surely increase the use of Crypto Gambling sites.

milewilda

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Quote from: robelneo on December 11, 2020, 07:40:33 AM

That's the biggest turn around according to Wikipedia

Quote

Gambling in Cambodia is officially illegal under the 1996 Law on Suppression of Gambling, which outlawed all unauthorized forms of gambling and provided for penalties ranging from monetary fines to short prison sentences, although the Cambodian government's General Department of Prisons does not list gambling as one of the 28 offenses punishable by imprisonment.

Now they want to be gambling friendly country and they created news laws and special zone to make gambling attractive to foreigners, they want to strengthen their tourism because tourists like to visit countries with gambling casinos, and they are also giving livelihood and employment too with these new laws.

It would really be on that domino effect when such laws would be reversed out and now they are trying to embrace this gambling industry which we cant deny that it would really be
that beneficial not in the sense for taxation purposes but also into the jobs or employment or simply showing off some domino effect.This decision is a good one that had been
done by Cambodian government where they do realize that instead on continuously prohibiting gambling then why wont really be doing the opposite if they
would able to see the benefits or it? Some countries are really just too protective into their citizens but actually these things can really even help out
in talks of economy etc.

Chrystora123

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Quote from: fiulpro on December 10, 2020, 02:55:46 PM

snip..

This is the wisest step that the Cambodian government has taken to gambling players and businessman gambling there. in a country where gambling is strictly prohibited, gambling is used as a back door business by the mafia and local officials. the state as tax recipients and also gambling actors (players or business people) as taxpayers can synergize to satisfy each other so that neither party will feel that anyone is disadvantaged..

avikz

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Possibly Combodia is eying to increase their market share in travel and tourism industry. Decreasing gaming tax is definitely one of the steps towards this goal so that travel and tourism industry can keep a bigger portion of their earning for their own betterment! It is a baby step but an effective one!

Also creating a special zone for such activities is another step towards the bigger goal. The way countries create special economic zones for factories and industries, Combodia is following the same practice for travel industry! Hope this works in their favor to recover the economy!

Topic: Cambodia enacts new laws related to gambling. - page 4. (Read 761 times)