Saipan to introduce five percent gaming tax

A Saipan legislator has introduced a bill that would impose a five percent tax on all gaming revenues in the CNMI, Saipan Tribune reports.

Named the House Bill 20-31 and introduced by Vice Speaker Janet U. Maratita, the bill would see the new tax come into effect in two years time.

“Indeed, the CNMI government has been incurring a budget deficit since it first became a Commonwealth in 1978 and then governor Carlos S. Camacho ended his term in 1982 with a $5 million deficit,” Maratita wrote on the HB 20-31.

“The exclusive license fee that is paid currently is arguably a fair price for a legal monopoly, but even an entity that enjoys exclusive gaming rights should be paying their fair share of taxes,” she said, adding that the new gaming industry is largely untaxed.