Three main casinos in Nepal owe over €1.2 million in taxes

Jenny Ortiz 2 months ago
Three main casinos in Nepal owe over €1.2 million in taxes

Three major casinos in Nepal collectively failed to pay over Rs 110 million (€1.2 million) in taxes, according to the Nepalese government.

The casinos are Central Media, Ratna Services, and Venue Creation.

Local media Republica reported that these establishments are mandated to pay royalties, renewal fees, and other charges.

The report said the licenses of the three casinos have not been renewed.

Based on government data, Central Media has an outstanding balance of Rs 80 million (€895,000).

Meanwhile, Ratna Services owed the Nepalese government over Rs 20 million (€140,000), and Venue Creation with Rs 10 million (€70,000) in dues.

Moreover, Ratna Services and Venue Creation still have to settle their arrears of Rs 29 million (€324,000) and Rs 11 million (€123,000), respectively, within the next month to adhere to regulatory requirements.

Casino tax in Nepal

Nepal’s Finance Bill 2080 BS requires casino operators to pay their taxes in installments. 40 percent by mid-January, 30 percent by mid-April, and the remaining 30 percent by mid-July every year for license renewal

Currently, the country’s Department of Tourism (DoT) oversees 30 registered casinos, 13 of which are major venues operating in five-star hotels and 17 are mini-casinos operating solely through machines or equipment in four-star hotels.

SiGMA Eurasia and SiGMA Africa – less than a month away

With less than a month until the highly anticipated SiGMA Africa event kicks off in Cape Town, South Africa on the 11th of March, the gaming industry is abuzz with excitement. Building on the success of its inaugural edition in Nairobi, Kenya, in January 2023, SiGMA Africa is strategically positioning itself at the forefront of Africa’s burgeoning gaming landscape. With the continent’s market poised for exponential growth, driven by a rapidly evolving digital ecosystem and increasing mobile connectivity, SiGMA Group recognizes the need to foster collaboration and innovation within the industry. By bringing together leading stakeholders and visionaries in gaming, SiGMA aims to catalyse progress and propel Africa towards a new era of prosperity and opportunity. As the countdown to the event begins, anticipation mounts for what promises to be a landmark gathering of gaming enthusiasts and innovators in the vibrant city of Cape Town.

The fourth edition of SiGMA Eurasia will once again be held at the InterContinental Dubai Festival City. Held between the 25 and 27 February 2024, the summit provides invaluable opportunities for attendees to network with industry professionals, gain exposure to the latest tech and innovations in the sector, meet key decision makers, and gain insight into new markets.

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