Trinidad & Tobago’s Plans To Double Gaming Taxes
The Government of Trinidad and Tobago increases gaming operator taxes, which will see most fees double by 2018. The Gaming Industry is protesting government’s new tax plan
On Monday, Trinidad & Tobago’s Finance Minister Colm Imbert delivered the 2017-2018 national budget plan. According to Imbert’s budget presentation, most Gaming Taxes will double by 2018.
The Trinidad and Tobago Members Club Association (TTMCA) issued a statement saying that «thousands will be affected by this inhumane increase». The Stakeholders in the Gaming industry are protesting the new increases seeing them as «an act of bad faith by the Government of Trinidad and Tobago».
The government is planning to double the annual slot machine fees to TTD 24k per unit, while other gaming devices will increase to TTD 60k. The import tax on electronic gaming machines will double from 20% to 40%.
The new tax plan will see a new 10% tax on players’ lottery winnings that will be applicable from the beginning of December. The National Lotteries Control Board (NLCB) stated that it has had the highest ever profits in 2016.
Each electronic roulette machine will have a flat fee of TTD 120k (US $17,820). The fees of other amusement machines are going to increase to TTD 6k ($891).
The annual slot machine fees will increase to TTD 24k per unit. Gaming table fees will see major changes, new rates are going to vary depending on the game: roulette (TTD 120k); Rhum 32 (TTD 150k);; Caribbean Stud poker (TTD 150k); blackjack (TTD 120k), regular poker (TTD 60k)baccarat (TTD 100k); Sip Sam (TTD 150k); craps (TTD 70k).
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