Casinos: The price of IRs

In Casinos on 26/02/2011 at 6:32 am

Because S’pore wants a casino to be only part of an Integrated Resort, the resort owner only pays 17% tax.  In Macau, which is less squimish abt living off the gambling industry, the tax rate is 39%

Between April and November 2010 the IRs paid S$420m in taxes.

If the IRS here had to pay 39% tax, S’pore would have collected S$544m more.

Marina Bay’s 57th-floor “skypod”, the infinity “skypool”, the world’s biggest ballroom and a huge shopping centre., and RWS’s Universal Studios set, and its continued detention of Flipper’s friends, are only possible because of the 17% tax rate.

I’d forgo all these for more money.

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