Wednesday, June 19, 2024

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Main Nepal casinos failed to pay $1.3 mln in taxes

Government records have uncovered financial irregularities among three leading casinos in Nepal – Central Media, Ratna Services, and Venue Creation – collectively failing to meet their fiscal obligations by over Rs 110 million ($1.3 million) this year.

Nepal border casinos pose high money laundering risks: report

Casinos along Nepal’s border pose a high risk of money laundering of foreign proceeds, a report by the Asia/Pacific Group on Money Laundering (APG) alleges.

Nepal mandates ISPs restrict sites, apps used for online betting and digital currencies

Nepal is stepping up its efforts to restrict sites being used for online betting and virtual currencies, with the telecom regulator asking internet service providers (ISPs) to block web platforms relating to online gambling and crypto.

Nepal at risk of being greylisted by Financial Action Task Force

Nepal could be at risk of being greylisted by the Financial Action Task Force (FATF), after the body found a number of deficiencies that the nation is struggling to remedy in order to be in compliance with anti-money laundering and terrorism financing standards.

Nepal government revokes license of three more casinos

The Nepal government has revoked the casino licenses of three more casinos for failure to pay out their outstanding dues.

India attraction remains key driver for Nepal casinos

Nepal’s casino industry has been attracting foreign investor interest, due to the allure of its proximity to India, though it is yet to breakthrough as a premier gaming destination with numerous setbacks over recent years.

Your Daily Asia Gaming eBrief: Connectivity key for Nepal growth

Nepal’s nascent casino industry, like most around Asia, has been hit hard by the pandemic, but is now slowly beginning to recover.

Nepal needs more flights, better infrastructure, for casinos to thrive

Nepal’s casino industry is slowly reopening after the pandemic, although better infrastructure and greater flight connectivity are key for helping the industry to develop in the longer term, the head of Casino Association of Nepal says.

Nepal casino royalty arrears stand at Rs1.11b, collections at Rs810m

The Nepal government has collected Rs810 million in royalties from casinos in Nepal, although arrears of more than Rs1.11 billion ($9.2 million) still need to be paid, according to local media reports.

Nepal closes two casino properties for failure to pay royalty fees

The Nepal government has canceled the casino licenses at two hotels for failing to pay their royalty fees, according to local media reports.