Asia

Nepal government alarms casinos of pulling the plugs

Published

7 years ago

March 8, 2018

Athira A

Nepal government alarms casinos of pulling the plugs

Casino Royale, Kathmandu, Nepal. Photo credits: Pinterest

Reading Time: < 1 minute

Alarming on the deadline of three more days to pay the approved tax percentage, the government of Nepal notified the licensed casino operators in Nepal, that the venues will be closed. National authorities are calling for the regulated taxes and royalty payments from gaming salons that have not complied with the established legislation on casino fees.

The warning sent by the government to the licensed gaming companies currently operating in the country states:“We have served a three-day ultimatum on tax defaulting casinos and mini-casinos, and if they do not pay heed to the department’s orders, they will be punished as per the law.”

As established by the law approved in 2013 – Casino Regulation- operators must chip-in to the country’s finance structure with a Rs 20 million (US$307,800) fee to acquire a casino operating licence. Moreover, the companies must pay an annual fee equal to 50 percent of the operating licence tax per year. The operators were also required to pay an annual royalty.

Three casinos in Nepal, namely Casino Royale, Casino Rad and Casino Venus have been allowed to stay on track, owing to an interim order from the Supreme Court, but now operations are threatened by the Nepalese government, which had previously pulled the plugs of several salons in 2014 when operators did not adhere to the Casino Regulation 2013.

Related Topics:

Up Next

The Congress of Japan finally addressing the IR implementation bill will determine the trajectory of the casino industry

Don't Miss

NagaCorp EBITDA to grow 20% annually, better placed than Macau: analysts

Athira A

Athira is a self-described “logophile” – a lover of words. She loves updating her vocabulary and playing around with words, to frame a sensible world of letters. Letters come alive when they become words and when words become sentences. And that’s her job, to put them together in a meaningful way without loosing its essence. She has written content for websites, articles and poems for an international magazine, and press releases as well. She also loves writing on social media. She holds a Masters degree in bio-technology, but she has always been interested in the organic farming of words. Besides writing content for our daily news feed, she is also working as staff writer/editor with Impressions Content Management, based in Kerala, India, which offers writing and editing services to clients around the world.