Casino tax rates to rise; entry levies up by 50%

Singapore

THE government will be introducing a tiered casino tax structure with higher tax rates effective in March 2022, on the back of additional gaming provisions for Singapore's two integrated resorts (IRs) as they commit to a S$9 billion investment to ramp up facilities and attractions over the next few years.

This will be accompanied by a 50 per cent increase in casino entry levies for Singaporeans and permanent residents which kick in on Thursday.

The moves are understood to be pre-emptive measures to curb problem gambling, rather than as a means to increase fiscal revenue. Revenue from betting taxes (comprising taxes from casinos, lotteries, horse and sports betting, and fruit machines) was S$2.66 billion in FY2018, making up 3.6 per cent …