What is the excise tax rate for casino business in Vietnam?
What is the excise tax rate for casino business in Vietnam?
According to Article 7 of the Law on excise tax 2008 amended by Clause 4, Article 1 of the Law on Amendments to the Law on excise tax 2014, the excise tax rate for goods and services is stipulated as follows:
| No. | Goods and Services | Tax Rate (%) |
|---|---|---|
| II | ||
| 1 | Nightclub business | 40 |
| 2 | Massage and karaoke business | 30 |
| 3 | Casino and prize-winning electronic games business | 30 |
| 4 | Betting business | 30 |
| 5 | Golf business | 20 |
| 6 | Lottery business | 15 |
Thus, the excise tax rate for casino business is 30%.
What are the current conditions for conducting casino business in Vietnam?
Pursuant to Clause 1, Article 24 of Decree 03/2017/ND-CP (amended and supplemented by Clause 1 and 2, Article 8 of Decree 151/2018/ND-CP), the conditions for being granted the Certificate of eligibility for casino business include:
(i) Being granted the Investment Registration Certificate or Decision on Investment Policy by the competent state management agency, which includes casino business activities.
(ii) The enterprise has disbursed at least 50% of the total registered investment capital for the project stated in the Investment Registration Certificate or Decision on Investment Policy.
(iii) Having an area to set up a Casino Business Point meeting all conditions stipulated in Clause 2, Article 5 of Decree 03/2017/ND-CP.
(iv) Having a manager or operator of the Casino Business Point with at least a university degree and a minimum of one year of experience in managing casino business activities.
(v) Having a business operational plan in accordance with the provisions of Clause 6, Article 25 of Decree 03/2017/ND-CP.
Additionally, according to Clause 2, Article 24 of Decree 03/2017/ND-CP, each investment project in a complex service, tourism, and entertainment area with a casino may only be considered for issuance of one Certificate of eligibility for casino business, and this certificate is only granted to the enterprise registered to implement the investment project as stipulated in the Investment Registration Certificate or Decision on Investment Policy.
What is the excise tax rate for casino business in Vietnam? (Image from the Internet)
What is the application for applying for the Certificate of eligibility for casino business in Vietnam?
According to Article 25 of Decree 03/2017/ND-CP, the application for applying for the Certificate of eligibility for casino business includes the following documents:
(1) Application form for the Certificate of eligibility for casino business.
(2) Certified copy of the Investment Registration Certificate or Decision on Investment Policy, which includes casino business activities, and any adjusted Investment Registration Certificate or Decision on Investment Policy (if any) issued by the competent state management agency as per investment law, or an uncertified copy presented together with the original for verification.
(3) Documentation proving that the enterprise has completed the disbursement of investment capital as stipulated in Point b, Clause 1, Article 24 of Decree 03/2017/ND-CP.
(4) Diagram of the location for the Casino Business Point.
(5) Draft Internal Management Regulation, organization of Internal Control Department, internal regulations on anti-money laundering, Dispute Resolution Regulation, and Game Rules.
(6) Casino business operational plan including: Information about the enterprise, information on the implementation status of the investment project, the proposed period for casino business operation, projection on the number of gaming machines, gaming tables, types of prize-winning games, evaluation of business efficiency, projection of foreign currency income and expenditure needs, security, order, and social safety assurance solutions for the Casino Business Point, and implementation plan.
(7) List, judicial records, certified copies of diplomas proving the professional qualifications of the manager or operator of the Casino Business Point, or an uncertified copy presented together with the original for verification.
What are the procedures for issuing the Certificate of eligibility for casino business in Vietnam?
According to the regulations outlined in Article 26 of Decree 03/2017/ND-CP, the procedures for issuing the Certificate of eligibility for casino business are as follows:
- The enterprise shall submit one application of application for the Certificate of eligibility for casino business to the Ministry of Finance for checking the completeness and validity of the application. Within 15 days from the date of receipt of the application, the Ministry of Finance notifies the enterprise of the application's completeness and validity and requests additional documents (if any) and the submission of six official application copies for appraisal.
- Within 60 days from the date of receipt of a valid application, the Ministry of Finance will consider issuing the Certificate of eligibility for casino business. In the case of refusal, the Ministry of Finance will notify the enterprise in writing and clearly state the reasons for refusal.
- Sequence of appraisal procedures
+ Within 15 days from receiving a valid application, the Ministry of Finance will send the application to related agencies for comments, including the Ministry of Planning and Investment, Ministry of Public Security, Ministry of Culture, Sports and Tourism, State Bank of Vietnam, and the provincial People's Committee where the enterprise seeks permission for casino business activities;
+ Within 15 days from receiving the application for comments, the consulted agency must provide written feedback to the Ministry of Finance and be responsible for the content of their input;
+ After receiving feedback from the related ministries and central authorities, the Ministry of Finance will consolidate opinions and consider the issuance or non-issuance of the Certificate of eligibility for casino business.
- Appraisal content
Based on the regulations in Decree 03/2017/ND-CP and other relevant legal provisions, the Ministry of Finance and related agencies will appraise the application according to criteria that comply with the conditions stipulated in Clause 1, Article 24 of Decree 03/2017/ND-CP.
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