Vietnam Increases Surveillance on the Casino Sector

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Casino Vietnam

The Vietnamese authorities have augmented the monitoring of the financial activities of the expanding casino industry in the country. The government has taken a stance on stringent control of the casinos’ finances to ensure that it gets the taxes that are due. At the end of 2017, Vietnam’s Ministry of Finance issued a guide called A Circular Guiding Management and Supervision of the Collection of Taxes on Casino Business Activity. The guide, which was availed to the public last week, states the government’s intention to increase its casino industry.

The guide also provides rules and regulations for the casino industry.

The new rules and regulations will be implemented from the 12th of February. One of the new rules that will be implemented is that the cash clerks may only accept government currency from players who want to purchase chips or to pay the winnings of the players. The government has strictly stipulated that payment may not take place with gold, Bitcoin or other prizes. The government banned all Bitcoin transactions in 2017. The casinos are compelled to document all transactions relating to money on specific computer packages. The information gathered will have to be grouped into revenue categories and lodge the financial information to the relevant government department to ascertain that the casinos are paying tax.

Specific Casino Operations

The casinos will be required to keep its money in specific containers that need to be closed when removed from the tables or safes. Every casino will have to fix CCTV cameras to be compliant with the new guide. Vietnam had a protracted bar on citizens waging at casinos and two casinos were indicted for illegal activities and have been involved in a trial that has lasted 3 years. The two casinos involved have not been announced.

At the beginning of January, the police swooped into an unlicensed gambling space at Ho Chi Minh City and arrested 4 men involved in the operation. The authorities are revealing to the communities that it will not tolerate illegal gambling and perpetrators will be captured and prosecuted. The culprits involved in illegal gambling may face a prison sentence.

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