Casinos in Nepal face bleak future over tax evasion
Casinos in Nepal who were eyeing some sunshine due to the festive New Year season got a bad news on Tuesday.Updated: Dec 28, 2010 17:48 IST
Casinos in Nepal who were eyeing some sunshine due to the festive New Year season got a bad news on Tuesday.
The Public Accounts Committee of parliament directed the government to recover tax worth NRs 193 million (US $ 2.63 million) from five operators within a month or cancel their licenses.
Five casinos run in five-star hotels in Kathmandu and Pokhara have been under scanner for some time now for evading payment of taxes.
Two of these casinos are owned by Nepal Recreation Centre belonging to Rakesh Wadhwa, a 53-year-old Indian from Kolkata. He has two more casinos in Nepal.
Reports say that Wadhwa, the unrivalled king of the Nepal casino business till the start of this year, lost control of two of his casinos in recent months and has fled the country.
Informing media persons about Tuesday’s move, PAC chairman Ram Krishna Yadav said that licenses of casinos would also be cancelled if they flout rules and allow Nepali citizens to gamble.
First Published: Dec 28, 2010 17:45 IST