PUBLISHED: 29 Dec 2024 at 06: 01
According to the Stop Gambling Foundation, the expenses that would create enjoyment complexes emphasizes having casinos rather than providing details on how the nation will receive income.
The Finance Ministry plans to provide the Entertainment Complex Bill to the case the following month with a negative review.
Thanakorn Komkrit, secretary-general of the base, on Saturday expressed concerns about the president’s details, which “diverge considerably” from the first Singapore type of opening a controlled entertainment complex business.
He claimed that the act allows for significant downgrades of leisure complex features, including high-end hotels and malls, that could have an impact on revenue. Rather, the focus has shifted almost entirely to gambling.
Important elements, such as convention centers and music venues, are no longer included in the program, and ambiguous rules may cause inconsistent coverage implementation in complex operations.
One controversial clause involves entrance fees for Thai residents, capped at 5, 000 ringgit per mind.
Critics claim that this charge may be reduced or completely eliminated, giving citizens access to casinos and making them more extroverted.
Red flags are also raised by the lack of a dedicated monitoring body and a bank to stop gambling-related harms.
” Most notably, it’s unclear how much the land may benefit from the bill as it doesn’t provide clear information about tax collection]from related business activities ]”, said Mr Thanakorn.
He added that without requiring public view, the bill grants a policy board led by the prime minister sweeping authority to decide where the complexes are located, who holds licenses, and what tax rates are imposed.
In turn, the table may favor investors in entertainment compounds by imposing low-rate tax, allowing them to lease land for up to 99 years, and raise money for them, according to Mr. Thanakorn.
He was likewise concerned that stringent rules may make gambling centers for money laundering by thieves.
Despite the issues, deputy finance minister Julapun Amornvivat asserts that the bill could have a positive impact on the economy.
He claimed that the project can generate significant revenue during the initial investment and operation phases, increasing GDP by at least 0.7 % and the project’s investment by at least 0.2 %.
The costs outlines a platform for included features, including stores, hotels, sports venues and theme parks.
But, gambling remain the primary stage, with 30-year licensing available for 5 billion rmb, plus annual costs of 1 billion ringgit. According to the Finance Ministry, investments cost more than 100 billion baht per advanced, and generate 40 to 50 billion ringgit in annual revenue.