Monday, August 08, 2022

Betting, casino tax revenue down 0.9%


The Inland Revenue Authority of Singapore (IRAS) collected $52.4 billion in tax revenue in the 2019 fiscal year, up 4.4 percent from the prior year. 

IRAS said the increase was underpinned by a 3.1 percent expansion in Singapore in 2018.

There are two regulated casinos in Singapore, including Marina Bay Sands operated by Las Vegas Sands and Resorts World Sentosa, operated by Genting Singapore. 

Betting taxes, which consists of betting duty, casino tax, and private lotteries duty, fell 0.9 percent year-on-year to $2.7 billion. 

"Tax revenue collected supported funding of key government programs to build an innovative and connected economy, a quality living environment and a caring and inclusive society," said the IRAS.

Asia Gaming Brief is a news and intelligence service providing up to date market information for worldwide executives on relevant gaming issues in Asia.

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