In the latest budget of the government, an additional football betting tax of 2.4 billion yuan will be collected from the Jockey Club every year for a period of five years.
Kwan Ho-ming, Member of the Legislative Council of the Election Committee, accepted a radio interview this morning (24th), saying that the Jockey Club’s non-regular charitable funding last year involved 2 billion yuan, and he believed that the reduction in the Jockey Club’s income would definitely affect its non-regular funding.
He hoped that the government would communicate with the Jockey Club to reduce the impact on the social welfare sector.
Most of the club's income is used for charitable purposes.
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Support nearly 300 social welfare organizations involved in anti-epidemic support
Guan Haoming said that most of the Jockey Club’s income is for charitable purposes. Although the Jockey Club has issued a statement promising not to reduce the annual donation, he believes that the “additional football betting tax” will reduce the Jockey Club’s income. Affects non-recurrent appropriations.
He pointed out that the Jockey Club donated 2 billion yuan in extraordinary charitable funds last year to support nearly 300 social welfare organizations, which involved anti-epidemic support and so on.
Open source should not affect Hong Kong people's gambling habits
He agrees that the Hong Kong government should diversify its tax revenue, otherwise it will be detrimental to the development of Hong Kong in the long run, but he believes that the extra tax of 2.4 billion yuan paid by the Jockey Club every year is "not a small amount". He hopes that after the government communicates with the Jockey Club, it will not affect the social welfare sector scheme.
As for some councilors’ proposal to allow the Jockey Club to implement a global confluence betting pool to attract people from all over the world to participate in Hong Kong’s horse racing betting and open up sources of income for the Jockey Club, Kwan Ho-ming emphasized that his main principle is not to affect the gambling habits of Hong Kong people.
Budget | The Jockey Club says that the extra gaming tax will affect the charity appropriation NGOs are worried about operating difficulties and need to reduce expenditures Doubts will be revenged Lu Hanmin advocates the introduction of a global betting pool budget｜Levy football betting tax news on the Jockey Club: only 4 cents of football betting revenue 1
