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Slot Machine Tax Malaysia Berhad

Soto is confident the Legislature has found the answer to replace municipalities’ inventory-tax funding by modifying the tax formula on slot machines not located in casinos. Slot machines pay either $300 or $3,000, depending on the type of machine, for a registration ticket, but most operators get the $300 registration sticker.
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Apart from slot machines, the same applies to winnings from lottery, bingo, keno, poker or other games of chance. So, if the amount won on a slot machine is higher than $1200, the casino is required to report it. In other words, all your gambling winnings have to be reported on your tax return as 'other income' on Schedule 1 (Form 1040), line 8.

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There will be no more mini casinos and slot machines in Sabah, says Sabah Chief Minister Mohd Shafie Apdal.

He said he had given clear instructions to put an end to mini casino and slot machine operations in the state.

“When one has a habit of gambling, it could lead to dangerous consequences like family neglect and resorting to loan sharks for easy money to gamble more.

“But if you want to play mahjong (Chinese tile-based game), I don’t mind as long as there is no money involved,” he said at a dialogue with Chinese business community in Sandakan today.

Shafie, who is also state finance minister, said this when answering a question from the floor on the state government’s stand on an inter-faith coalition in Sabah urging the state and federal governments to ban mini casino and slot machine operations in Sabah recently.

The federal government still issues licences for such operations, but also increased slot machine taxes from RM10,000 to RM50,000 annually, while duties on profits from slot machines increased to 30 from 20 percent.

However, signatories of the inter-faith coalition were doubtful that the tax hike would deter gambling.

“I am going to speak to federal Finance Minister Lim Guan Eng not to encourage gambling in Sabah,” said Shafie.

Slot Machine Tax Malaysia Berhad

- Bernama