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Thailand’s casinos edge ever closer

Thailand’s casinos edge ever closer

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Bringing the legalisation of casinos a significant step closer, Thailand’s parliamentary casino committee has finalised a Draft Bill proposing a 17% tax on casino operations.

It is anticipated that the proposed legislation will be strongly supported in the nation’s House of Representatives, before passing to (and through) Prime Minister Seetha Thavisin’s Cabinet.

Tourism sits at the centre of the Prime Minister’s vision for Thailand, with visa-free travel policies building visitor numbers from China, India and Russia, and further exemptions are expected,

Provisions within the Draft Bill are geared towards long-term stability and include a minimum paid-up capital of THB10bn (US$277m) for Thai-registered companies and a 20-year initial license period. Initial license offerings will be for large-scale integrated projects with circa THB100bn (US$2.7bn) investment.

The proposed tax framework is believed to be competitive with that of Singapore and more generous than those imposed in Japan and the Philippines.

The Thavisin government is committed to the creation of conditions that will attract foreign investment, and position Thailand at the very forefront of the Asian tourism and entertainment business. And one of the clear objectives of this Draft Bill is to accelerate the development of the region’s next ‘mega-resort’.