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ISSUE 146 Friday 4th MARCH, 2016<br />
“Bookies” proposing instead of 10 percent betting tax to pay…<br />
PERCENTAGE OF<br />
GROSS PROFITS<br />
Private bookmakers<br />
are making a<br />
proposal to pay a<br />
percentage on their gross<br />
profits instead of the current<br />
l0 percent betting<br />
tax paid by punters.<br />
This was among proposals<br />
put forward for the new<br />
Gaming legislation when<br />
officials of the Betting<br />
Levy Board (BLB), representatives<br />
of the private<br />
betting shops and Ministry<br />
of Finance met last week in<br />
Port of Spain..<br />
- in new betting legislation<br />
Former Finance Minister<br />
Larry Howai, under the<br />
former Kamla Persad-Bissessar<br />
administration had set<br />
up a Task Force, comprising<br />
members of the BLB<br />
and the Arima Race Club<br />
(ARC) to make recommendations<br />
for the drafting<br />
of the Gaming Bill, which<br />
was laid in parliament a<br />
few days before it was prorogued<br />
to make way for the<br />
September 7 general elections.<br />
The bill is expected to<br />
come back to Parliament<br />
within the next few months.<br />
Although the Task Force<br />
had held consultations with<br />
stakeholders in the racing<br />
industry and even the<br />
Tobago House of Assembly,<br />
new Finance Minister<br />
Colm Imbert said more<br />
consultations were needed<br />
on the Gaming and Betting<br />
Bill in his 2015/2016 budget<br />
presentation in Parliament<br />
last October.<br />
One of the recommendations<br />
that were made by the<br />
BLB was to computerize<br />
the betting shops to ensure<br />
that the l0 percent betting<br />
tax is collected.<br />
But the BLB is considering<br />
the new offer by the<br />
“bookies” to pay a percentage<br />
of gross profits instead<br />
of the l0 percent tax.<br />
The BLB has set up a<br />
three-member committee<br />
to examine the proposal<br />
and come up with a percentage<br />
which can bring in<br />
more than the current $15<br />
million the nine betting<br />
HORSE RACING ACTION<br />
By Azad Ali<br />
Page 13<br />
shops are currently paying<br />
a year.<br />
Some racing officials<br />
feel that a realistic percentage<br />
may be around 40 percent<br />
and the “bookies” will<br />
get 60 percent of the gross<br />
profit.<br />
Current and past racing<br />
officials claim that punters<br />
are investing close to a billion<br />
dollars a year- most of<br />
the bets come from English<br />
racing.<br />
But the “bookies” have<br />
constantly argued that betting<br />
has declined over the<br />
past years due to competition<br />
from the National Lottery<br />
Control Board (NLCB)<br />
games, casinos and underground<br />
betting.<br />
However, BLB officials<br />
said it is only when the betting<br />
shops are computerized<br />
then the true volume of<br />
betting would be revealed.<br />
A source said that a tamper-proof<br />
software would<br />
be installed in the computers<br />
to record the volume of<br />
daily bets.<br />
A Gambling Commission<br />
will be established to<br />
regulate gaming at casinos,<br />
amusement shops and betting<br />
on horse and dog racing.<br />
Happy connections of Always Ready in winner’s enclosure. Right is trainer<br />
HAROLD CHADEE and left is Dr MERLIN LEELA.<br />
Owner STEVE MADOO (left) and his son ALLAN, lead in Luck Stranger into<br />
winner’s circle with Barbadian jockey Jalon Samuel astride<br />
KAMLA MAHARAJ and Trainer WALTER DEBYSINGH with Layla with<br />
winning jockey PRAYVEN BADRIE.<br />
Owner MERLIN SAMLALSINGH (left) and his wife CARMEN lead in one-two in<br />
the Infallibility Stakes event- The Gatsby (left) and Wall Street. Jamaican trainer<br />
ANTHONY “BABA” NUNES is at centre.