Six casinos close in T&T over new tax law

(Trinidad Guardian) Six small casino owners have decided to immediately close down their businesses and send home their workers due to the announcement of an increase in gaming taxes by Finance Minister Colm Imbert. This was just one of the major fallouts yesterday in the wake of Imbert’s announcement during Monday’s budget.

Some international casino operators are also threatening to pull out of T&T if there is no change in the tax, while some large local casino operators are also weighing downsizing operations. Speaking to the T&T Guardian yesterday, T&T Members Club Association (TTMCA) president Sherry Persad said some of the decisions were made during a twohour emergency meeting casino owners held yesterday.

“Based on our meeting at least six small clubs expressed closure. Termination of workers can reach in the thousands by year’s end in light of the implementation of the increase of taxes from January 2018,” Persad said.

Noting the gaming industry hired over 9,000 people directly and 30,000 indirectly, Persad said members felt the punitive taxes unilaterally imposed on the industry were unfair. “Discussions will begin with the Union of Members’ Clubs and Lottery Workers (UMCLW) about the staffing implications of the taxes and provide counselling support where possible,” Persad said.

She disclosed they will also seek legal advice on how to challenge the taxes. UMCLW vice president Sean Clarke said the majority of the 9,000 employees in the industry were single mothers who also have limited education and live in poor communities. He also noted the industry had created indirect jobs for over 30,000 people, including taxi drivers, caterers, decorators, florists, air condition and refrigeration personnel, security guards and local entertainers and musicians year round. Clarke said the union strongly disagrees with and rejects the imposing of a tax of over 100 per cent.