Trinidadian Bookmakers Face Crisis Over Tax
by Mike Godfrey, Lowtax.net, New York
15 January, 2014
Private betting shops in Trinidad and Tobago are struggling to stay in business due to a 10 percent tax which is levied on every bet.
The tax was implemented in 1992 when fewer betting options were available. However, in the past two decades punters have increasingly turned to online services and unregulated bookmakers in order to avoid the tax.
Peter George, President of the Trinidad and Tobago Bookmakers' Association, said that at least two of the country's betting shops have been closed as a result of the tax, with some 300 employees being laid off.
The eight private betting shops which George represents have decided to close indefinitely to protest against the tax.
"We cannot operate because the business is not making any money," George said. "We need to get a fair and equitable tax implemented so the business can operate successfully."
See all of today's news