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Casino (Control) (Amendment) Act 2005

Commencement: 24 July 2005

REPUBLIC OF VANUATU

THE
CASINO CONTROL (AMENDMENT) ACT NO. 6 OF 2005

Arrangement of Sections

1 Amendments
2 Commencement

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REPUBLIC OF VANUATU

THE
CASINO CONTROL (AMENDMENT) ACT NO. 6 OF 2005

Assent: 14 July 2005
Commencement: 24 July 2005

An Act to amend the Casino Control Act No. 6 of 1993.

Be it enacted by the President and Parliament as follows-

1 Amendments

The Casino Control Act No. 6 of 1993 is amended as set out in the Schedule.

2 Commencement

This Act commences on the date on which it is published in the Gazette.

SCHEDULE

AMENDMENTS OF THE CASINO CONTROL ACT NO. 6 OF 1993

1. After section 13
   

Insert

“13A Exemption from requirement to pay tax

(1) The casino licensee is exempt, for the prescribed period, from any requirement to pay tax under section 13 if the Minister is satisfied on issuing the licensee’s licence that:

(a) the casino to which the licence applies is a new or proposed casino; and

(b) the capital investment in Vanuatu by the licensee, in relation to the casino and any development within which the casino is or is proposed to be located, has been or will be VT1 billion or more within a 3 year period.

(2) If the Minister determines (after issuing the licence and based on information not available to him or her when granting the licence) that the capital investment in Vanuatu has been or will be less than VT1 billion within the 3 year period:

(a) the exemption ceases to apply; and

(b) the licensee is liable to pay tax under section 13, for each month that has elapsed during the period of the exemption, at the rate that applied under that section during that month.

(3) However, if the Minister determines that failure to invest VT1 billion or more within the 3 year period is due to circumstances beyond the control of the licensee, the Minister may continue the exemption for a further period.

(4) If the Minister subsequently determines (based on information not available to him or her when making the determination under subsection (3)) that the capital investment in Vanuatu has been or will be less than a total of VT1 billion during the 3 year period and the further period, paragraphs (2) (a) and (b) apply.

(5) In this section prescribed period, for an exemption from tax payable in relation to a casino, means the period of one year from the date on which the casino commences to operate.

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