A new casino bill for Cambodia aims to tighten a loosely regulated industry and is expected to appear before the National Assembly in the second half of this year.
Ros Phirun, a spokesman for the Ministry of Economy and Finance, said the bill will provide a legal framework to ensure the growing industry is more transparent and complies with international standards.
“The casinos in Cambodia are increasing in quantity but not quality which is why we need new regulations that are strong enough to regulate it properly,” Phirun told Asia Gaming Brief.
Cambodia’s tax department collected $25m from 59 licensed casinos in 2014, a year-on-year increase of 15 per cent. Despite the rise in revenue for the government, Phirun said the current taxation system relies on casinos paying a lump sum every month based on various factors including their location and size - rather than on their gross gaming revenues.
“To collect tax we just call on them to have a discussion and then we require them to settle their obligation every month. We currently do not collect the tax based on real revenue,” he said.
Phirun said the draft law will be reviewed before being sent to the Council of Ministers in the second quarter. After that it will be sent to the National Assembly to be approved.
