Tax record

[Reyntj]

https://www.gundemkibris.com/kktcnin-20 ... belli-oldu


Merit tourism which is one of the biggest tax payers paid c43million tl in tax...

Thats today c £1 million pound..
It doesnt seem a lot for such a huge operation...

Must have a good accountant...all those packed casinos not appatently making too much money..

[benjaminbutton]

It a spit in the ocean. Just a sap to try and keep people quiet and fooled.

[EnjoyingTheSun]

Not a bad deal considering they don’t pay an electricity bill.
In Britain casinos pay tax on the casino win. It scales from 15% to 50%. Whilst 50% is a little high given it comes from the gross before any expenses such as wages etc are paid 15% to 20% out here would be fair and encourage the casinos to be run in a more efficient way.

[Reyntj]

I think i read its the same here but i cant renember what the% is...i think it was low and the article i read questioned the integrity of what the casinos declare...

(They do create a lot of jobs &.many well paid..merit i know is well above minimum wage.)

No surprise there...if this was an unrrecognised unregulated country one could see the opportunity for corrupt officials & companies to benefit..

All hypothetical of course...

A minister did recently stand up and ask why corporation tax revenue was so low and almost the same level as consumption tax revenue which in other countries is much lower...everyone knows the reason imo.

As an expat most of us accept it and understand its part of the culture.

[EnjoyingTheSun]

I think i read its the same here but i cant renember what the% is...i think it was low and the article i read questioned the integrity of what the casinos declare...

(They do create a lot of jobs &.many well paid..merit i know is well above minimum wage.)

I’m guessing it might have been this article

https://ggbnews.com/article/tax-change- ... -in-north/

So they now pay 5% which is ridiculously low. Relying on the casinos to honestly declare is hopelessly naive. An inspectorate of 4 to 6 could comfortably monitor the casino’s win and tax to be paid.

A casino couldn’t be that creative hiding the table results as that would open up too many windows of opportunity for the staff to have them over which is always their biggest fear and vulnerability.

As for jobs created, from what I’ve seen not too many jobs have been created for Turkish Cypriots in the casinos and certainly not the higher paying ones.

Still I’m sure the casinos pay in different ways and a few Turkish Cypriots benefit

[benjaminbutton]

They give away food, they give away ciggies (I think you have to pay for your own hookers or what ever preference you have) Very few locals are employed I suspect. I've seen them collecting staff in Merit transport and not many TC's. Some of them are housed, but that is deducted from their pay.

[Dave G]

As far as I am aware TC,s are not allowed in Casinos

[EnjoyingTheSun]

They give away food, they give away ciggies (I think you have to pay for your own hookers or what ever preference you have)

Complementaries are the price of a casino doing business but so is expecting to pay a decent level of taxation.
What is interesting is in other countries if you want to open a casino then you are expected to make a substantial contribution to the infrastructure to the area you are intending to open on top of hiring locals as well as paying a decent level of tax.

[EnjoyingTheSun]

As far as I am aware TC,s are not allowed in Casinos

That’s quite standard worldwide but they do let their people work in the casinos. Many insist on it

[benjaminbutton]

Some years ago when there were only Two Merits, I was with a deputy Manager and the subject of being registered in Turkey and taxes etc came up however, he did say that they purchased all their food, furniture, electrical goods, decorations etc from TRNC, so they contributed a great deal of money to the country. As I looked around admiring (?) the entrance, dining room and spa I thought to myself "and pigs might fly".