Cambodia’s Ministry of Finance warned his colleagues on the government that tax deductions from gambling will be significantly reduced from 2020 due to the recently approved ban on hosting gambling online in this country. In 2018, the treasury Cambodia received tax deductions from gambling operators in the amount of $ 50 million., The same amount of income is expected this year.
This week, this week, the Minister of Finance of the country, Aun Pornmonid, met with the President of the Cambodian Youth Party and a member of the Higher Advisory Council of the country of Peach Survey for the budget discussion for 2020. During the Minister of Pornmononov, said they received significant tax revenues from the casino industry and that, as a result of a ban on gambling on the Internet, tax revenues will significantly decrease. The Minister of Finance noted that, despite the expected reduction in contributions to the state budget, the ban was introduced to prevent the unscrupulous activity of gambling operators in Cambodia and ensure the economic stability of the country.
Over the past few years, Cambodia has become a real paradise for investors from China, which took advantage of licensing system for gambling on the Internet to provide their services for gambling and sports rates for customers based in other Asian countries, mainly in mainland China.