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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.

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