Trinidad and Tobago recently passed a new bill recently that could see the Caribbean island earn up to $2bn in revenue.
The Gaming and Betting Control Bill 2021 passed through the House of Representatives in June, giving the government firmer control over the taxation of the industry. They will now collect taxes from the cost of gaming owners’ license, gaming tables, customs duty on imported gaming devices and corporation tax. According to News Day, it is seen as a huge step forward for Trinidad and Tobago to reduce their budget deficit, thought to be $8bn.
The bill lists the sums payable to the government as $120,000 for every Black Jack table, $120,000 for every roulette table, physical and electronic, and $24,000 for every slot machine. Failure to comply will see establishments hit with stiff penalties, including $1m and a $250,000 administrative fine for…
