KZN's 'jackpot' of R403m in gambling taxes

THE KwaZulu-Natal government has hit a jackpot of more than R403m in gambling taxes.

26 Jun 2013

KZN's 'jackpot' of R403m in gambling taxes

During his budget speech at the provincial legislature last week, Premier Zweli Mkhize said the revenue from taxes on gambling in the 2013 financial year exceeded projections, with more than R403m collected.

"The gambling sector in KwaZulu-Natal is harnessed to bring employment, capital investment, corporate social investment projects and economic linkages to the wider economy, notably in tourism," he said.

Mkhize said it was important that the gambling sector expands in a controlled, socially responsible way.

Tax revenue from gambling taxes of at least R453m is projected for the next financial year.

He said the province planned to expand the sector with other forms of legal gambling including bingo, the totalisator and limited pay-out machines.

KwaZulu-Natal opened its fifth casino last year.

Source: The Times via I-Net Bridge

Source: I-Net Bridge

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