The Vietnamese government has reportedly issued a decree allowing its citizens to gamble at selected casinos with effect from 1 December.
Under the newly issued Ministry of Finance decree No 102/2017/TT-BTC, Vietnamese citizens who are over 21 years old and who have a declared monthly income of at least VND10m (US $440) for a period of at least a year before they choose to enter a casino will be eligible to do so.
In January 2017, the Vietnamese government approved a three-year trial period in which casinos could accept bets from Vietnamese citizens, where previously only foreign gamblers were allowed to enter Vietnamese casinos and gamble. This decree is the latest step in effectively regulating this process.
There are, however, restrictions on which casinos can offer gambling and only those resorts which have a total capital investment of at least $2bn are eligible to welcome Vietnamese gamblers. This threshold includes both gaming and non-gaming facilities.
Local gamblers will be required to pay VND1m for a 24-hour casino pass or VND25m for a month-long pass. At the same time, casino operators are responsible for collecting and accounting separately the proceeds from these pass sales, paying the proceeds back to the state budget within a period outlined in Vietnamese corporate income tax law.
The decree also stipulates that casino operators must open log books or issue electronic cards to monitor the people who are allowed to enter the casino, with those records being archived for a minimum five-year period and subject to examination by state agencies. This is to aid in the assessment of the impact of gambling on the Vietnamese population.
DISCUSS THIS ARTICLE
