Taxes paid by casinos in Mozambique increased by 14.6 per cent in the first six months of 2024, reaching 226 million meticals. Despite the growth, the figure was below forecasts, according to figures released by Lusa.
According to the economic and social balance of the implementation of the State Budget (OE) for the first half of the year, the amount collected represents only 18.3 per cent of the expected annual revenue of 1.2 million meticals.
Taxes paid by casinos in the first half of the year accounted for 0.1 per cent of all state revenue.
Five casino concessions in Mozambican generated investments of approximately 2.5 million meticals, according to Mozambican President Filipe Nyusi, in a statement made on 8 August in Parliament.
The National Directorate of Gambling said that casino concessions require a minimum share capital of 190.7 million meticals and a minimum investment of 388.4 million meticals over up to five years.
For operating games of chance, concessionaires pay the state a special tax on gambling, which varies between 20 per cent and 35 per cent of gross revenue, depending on the duration of the concession.
The concessionaires are also obliged to pay stamp duty, equivalent to 50 per cent of the price of entrance tickets to the casinos, and are exempt from other taxes on profits and import duties on equipment for operating the casinos.
In 2023, taxes paid by casinos increased by 21.9%, totalling 371.1 million meticals, compared to the 304.4 million meticals collected in 2022.
