Vietnam may remove tax on casino and jackpot winners - Friday 12th of August 2005

Vietnam is likely to exempt personal income tax on casino and jackpot players winnings, aiming to attract more foreign tourists and investors to the country.

Vietnams General Department of Taxation (GDT) has recently proposed the Finance Ministry to remove the tax on profits gained by the gamblers, according to local newspaper Vietnam Investment Review on Monday.

However, the issue is controversy among local authorities, as some claimed casino winnings must be taxed at either 10 percent, equaling to that of lottery awards, or 25 percent.

Head of the GDTs Personal Income Tax Section, Do Thi Thin, said unlike domestic lottery awards, all casino and jackpot players already pay a special consumption tax.

The ministry is drafting a plan on the formulation of casino and jackpot market, under which the gambling activities will be an integral part of the countrys tourism development.

Vietnam, home to some 20 casinos and hotels organizing jackpot activities, permits only foreigners and overseas Vietnamese to gamble at the facilities.

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