According to official data, tax revenues paid by casinos in Mozambique from January to September increased by 16.7% compared to the same period in 2022, to 281.5 million meticais (four million euros).
According to the economic and social balance of the execution of the state budget until the end of the third quarter of 2023, which Lusa accessed this Monday, the collection of the special gambling tax for these nine months compares with 241.1 million meticais (3.4 million euros) per same period 2022.
Despite this, this represents only 31.6% of the amount planned by the government as a target for collection this year with this tax, amounting to 891.3 million meticais (12.8 million euros), equivalent to 0.1% of all revenues of the state of Mozambique expected for 2023. .
Revenue from the tax has already increased by 12% in the first quarter, with the government justifying such results by the “conditional opening of casinos and some easing of restrictive measures due to the slowdown” of the Covid-19 pandemic.
According to Mozambique’s National Office of Games of Fortune or Chance, the granting of casino concessions in the country requires the share capital of the concessionaire’s commercial company, which must not be less than the equivalent of almost $2.7 million, and an investment over a period of five years. years, at least 5.5 million dollars (5.06 million euros).
To effectively operate gambling, concessionaires must pay the Mozambican government a special gambling tax levied on gross gaming revenues of 20% for concessions up to 14 years, 25% for concessions up to 19 years, 30% for concessions over 20 years. up to 24 years and 35% for concessions for a period of 25 to 30 years.
“Concessionaires must also pay a stamp duty equivalent to 50% of the cost of casino admission tickets,” states the National Gaming Authority of Chance, adding that they are “exempt from paying other taxes affecting gambling profits.” “, as well as import duties on imported equipment and materials intended exclusively for the operation of the casino.
Author: Lusa
Source: CM Jornal
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