The Laos government will raise excise taxes on casinos and casino games starting in January 2020. The levy will increase from 35 percent to 50 percent, according to the Xinhua News Agency.
On June 19, Lao Deputy Prime Minister and Minister of Finance Somdy Douangdy presented a draft of the proposed law, which is designed to match tax-rate levels to the value those products provide to people’s health and the environment. For example, the government will charge a higher excise tax for golf businesses, increasing it from 10 percent to 25 percent, and also raise the taxes on auto racing, horseracing and cockfighting.
Taxes will go down on things the government believes improve people’s lives. The excise tax for fuel will drop from the current range—9 percent to 39 percent—to 5 percent to 35 percent. The tax charged on motorcycles will decrease from 20 percent to 5 percent “as a way to support low-income earners,” explained Xinhua. The tax on internet access will be reduced from 10 percent to 3 percent.
The Lao government has listed 18 items and services to be covered by the law.
Inside Asian Gaming reported that Macau casino operator Macau Legend Development Ltd is currently preparing to begin Phase II of its Savan Resorts property in Savannakhet, Laos. The company, which purchased the property for US$42 million in 2016, recently stated it was willing to spend an additional US$500 million on Laos casino developments.
