The Hanoitimes - According to the draft circular of the Ministry of Finance, casino companies must install CCTV for administrative agencies to monitor.
The draft circular instructing on the management and monitoring of tax collection with regard to casino operation of the Ministry of Finance stated, casino company must use software for revenue and expense management, which is connected to the tax agencies (transferring the information of the total revenue daily). According to the Ministry of Finance, the objective of this requirement is to ensure the enterprise fulfill its obligation to the state with regard to tax payment.
Besides, the Ministry of Finance also want to establish a control panel under the direct management of tax agencies. This control panel is established by the head of local tax agency to monitor the operation of casino companies through CCTV or electronic devices. With regard to the proposal, casino company must provide space within the casino for the control panel to do its job.
Also in the proposal, the control panel will monitor transactions at casinos with regard to cash and tokens transaction and (exchange tokens, points, return money to guests, calculating transaction at the reception). At the same time, the control panel is required to report the survey result to the head of local tax agency at any violation to address the issue in a timely manner.
Explaining on these proposals, Ministry fo Finance said it is aimed to specifying regulations on administrative agencies’ management and monitoring of casinos in paragraph 1 – article 40 of Decree 03/2017. As such, on January 2017, the government has issued Decree No.03/2017 on casino operation, in which allows casino companies to operate based on certain requirements with regard to the investors and customers.
Afterwards, the Ministry of Finance has issued instructional circular, in which only Vietnamese citizens above 21 years old are allowed to play, along with other conditions of having sufficient financial capabilities, as well as paying income tax level 3 and above (or monthly income of above 10 million VND).
In the circular of seeking opinions from related ministries and agencies with regard to tax collection monitoring for casino operation in Vietnam, Ministry of Finance said: the nature of revenue and tax management for casino operation is to check on the cash flow at the end of the day in casino operation, therefore, Ministry of Finance proposes casino companies to use software in managing revenue and expense, which are connected to tax agencies.
At present, there is no information with regard to the kind of CCTV, electronic device or software to be used at casino, or whether these equipment will be supplied by the Ministry of Finance, or enterprise can purchase these equipment based on technical specification of Ministry of Finance.
Nguyen Tung - Ha Thanh