Six casinos that operate in Trinidad and Tobago are threatening to shut down in response to the government’s announcement that it will double their taxes and the gaming industry predicts that other casinos will follow suit.
The government last week announced its 2017-2018 budget that includes a new 10 percent tax on lottery winnings while doubling fees and taxes on all gaming operations.
The T&T Private Members’ Clubs Association (TTMCA) quickly warned that many operators would close, including six clubs closing immediately.
Planning Minister Camille Robinson-Regis recently said the government of the twin-island nation plans to move forward with its decision to tax the gambling industry. The TTMCA has warned that casinos will close and thousands of jobs will be lost if taxes are imposed on casinos. The gaming industry provides 9,000 direct jobs and 30,000 indirect jobs. TTMCA officials said they were not consulted about the tax plan and will seek legal action.
Robinson-Regis stated, “If we were to consult the gambling institutions, they would say, ‘Don’t tax us.’ We also have to look at what is best for T&T. All industries have been examined and the gambling and gaming industry has been examined, and that is the decision that we have taken
Regarding job loss, Robinson-Regis said, “We have heard that before. You would recall when the gaming and gambling legislation was brought before the parliament under the previous regime, there has not been any kind of job losses.”
TTMCA has requested an emergency meeting with Prime Minister Keith Rowley to discuss the matter. The government has claimed that the great majority of casino operators ignored the existing taxes and the ones that weren’t wouldn’t object to paying more taxes.
