Tycoons on the 2021 Forbes Malaysia Rich List saw a rebound in their collective wealth as it rose 14% to nearly US$90 billion this year, after declining for two years.
Cambodia aims to woo resorts with new casino law
Cambodia s new casino law leaves NagaWorld s monopoly over Phnom Penh in place until 2045. (Photo by Masayori Ishikawa)
Cambodia will boast one of the world s lowest tax rates for casinos under a new law that the government says will create a safe and sound sector and help attract greater investment.
The Law on the Management of Commercial Gambling, enacted last month, establishes a 97-article legal framework that includes tax rates and license requirements, as well as a new regulatory body to oversee the industry. The law replaces a patchwork of legislation and ad hoc agreements that have hitherto governed casinos in the country.