According to official data, tax revenues paid by casinos in Mozambique fell by almost 20% in the first three months of the year compared to the same period last year, to 71.4 million meticais (one million euros).
According to the data collected by Lusa this Thursday from the economic and social balance of the execution of the state budget for the first quarter, the collection of this special gambling tax compares to 88.4 million metics (1.2 million euros) from January to March 2023.
This is a decrease of 19.2% compared to the first three months of 2023, and only 5.8% of the total revenue that the government estimates will receive from this tax during 2024 is estimated at almost 1.235 million metitsai (17, 8 million euros).
According to data from the Ministry of Economy and Finance, previously reported by Lusa, revenue from taxes paid by casinos in Mozambique increased by 21.9% in 2023 compared to the previous year, to 371.1 million meticais (5.3 million euros). .
The collection of the special gambling tax in the 12 months of last year compares with 304.4 million metics (4.4 million euros) in 2022.
According to Mozambique’s National Office of Games of Fortune or Chance, the granting of casino concessions in the country requires that the share capital of the commercial company of the concessionaire be not less than the equivalent of almost $2.7 million (€2.5 million). and an investment over five years of at least $5.5 million (€5.05 million).
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 from 20 to 24 years and 35% for concessions from 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 that apply to gambling profits,” and also import duties on imported equipment and materials intended exclusively for the operation of the casino.
Author: Lusa
Source: CM Jornal
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