Vietnam may remove tax on casino and jackpot winners
15/8/2005 15:30
Vietnam is likely to exempt personal income tax on casino and jackpot
players' winnings, aiming to attract more foreign tourists and investors to the
country.
Vietnam's General Department of Taxation (GDT) has recently proposed
the Finance Ministry to remove the tax on profits gained by the gamblers,
according to local newspaper Vietnam Investment Review on Monday.
However,
the issue is controversy among local authorities, as some claimed casino
winnings must be taxed at either 10 percent, equaling to that of lottery awards,
or 25 percent.
Head of the GDT's Personal Income Tax Section, Do Thi Thin,
said unlike domestic lottery awards, all casino and jackpot players already pay
a special consumption tax.
The ministry is drafting a plan on the formulation
of casino and jackpot market, under which the gambling activities will be an
integral part of the country's tourism development.
Vietnam, home to some 20
casinos and hotels organizing jackpot activities, permits only foreigners and
overseas Vietnamese to gamble at the facilities.
Xinhua News
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