Gambling brought in some $15 billion annually to the island nations of Trinidad and Tobago, but according to Minister of Public Administration Allyson West, the industry paid less than $100 million in corporate taxes.
West spoke to the Senate during a hearing for the Gambling Control Bill 2021, according to Trinidad and Tobago Newsday.
West said the sector might not be making a reasonable contribution. Some operators import disassembled gambling tables and avoid an import duty by not declaring their use.
“I think the gambling industry has too long got away with not paying its fair share. This legislation will seek to address that,” West said.
The bill sets up a Gambling (Gaming and Betting) Control Commission that will be able to provide information to the Board of Inland Revenue, Financial Intelligence Unit and Customs and Excise Division. The bill also allows the Commission to inspect equipment to not only collect the appropriate taxes but also makes sure there is fair treatment of gamblers.
West acknowledged gambling addiction had become a growing menace with no official system to deal with it.
“It leads to all sorts of consequential problems, like persons spending all of their income on gambling and therefore not being able to take care of their families. As a result, you have the potential for domestic abuse and such other roll-on impacts. The bill mandates two funds, one for treatment of addicts and the second to provide other outlets besides gambling.”
