In Vietnam, the Ministry of Finance has reportedly issued new regulations that have been designed to ensure all of the nation’s casinos are run properly and correctly handle and record transactions for tax-collection purposes.
According to a report from Asia Gaming Brief, Decree Number 3 is set to go into effect from February 12 and will require every casino in the Asian nation, which include those operating inside the north’s Aristo International Hotel and Royal Halong Hotel, to accurately document and store information related to transactions and wins.
The new measure will also reportedly see Vietnamese casinos obliged to utilize specialized sealable containers in order to transport cash between their vaults and gaming tables. Properties are to moreover be forbidden from accepting non-conventional currencies.
Asia Gaming Brief reported that Decree Number 3 is to additionally see casinos forbidden from exchanging or returning currency during play while mandating that all transactions are to be monitored electronically before being submitted to authorities on a regular basis.
Finally, Asia Gaming Brief reported that the forthcoming regulations further dictate that casinos in Vietnam shall be required to pay all of the taxes they may owe under the existing Law on Corporate Income Tax, Law on Value-Added Tax, Law on Tax Administration and Law on Special Consumption Tax.