The Minster spoke during last Friday motion for the conformation of the tax measure.
The Provisional Collection of Taxes Order was proposed as an interim measure while the Trinidad and Tobago government is crafting what would be the nation’s new gambling law. Minister Imbert told local media that taxes could become a permanent means for the collection of revenue from clubs that feature gambling machines, in case opposition against the proposed regulation of gambling continues growing.
Opponents of the new tax have previously pointed out that it will have quite a negative impact on the business of club owners around the nation, as some of the facilities do not produce that much revenue.
Gambling operations will be taxed temporarily until the recently proposed Gaming and Betting Control
Bill 2017 is under consideration by lawmakers. In general, the legislative piece will regulate the nation’s gambling industry in a bid to prevent money laundering and other illicit money outflows as well as to protect residents, particularly children and other vulnerable people, from falling victims to gambling addiction. The bill is set to be presented to the Joint Select Committee in the coming weeks.
During earlier discussions about the Provisional Collection of Taxes Order, the Ministry of Finance said that there were more than 5,000 bars around the nation that were equipped with amusement games as well as with gambling machines. Under previous proposals, amusement games were, too, to be taxed, but that particular measure was scrapped due to large opposition.
Source: GMB / Casino News Daily
