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Jamaica Makes Changes in Lottery Plan

16 December 2003

JAMAICA – As reported by the Jamaica Observer: "The Jamaica government yesterday announced a $15,000 threshold on lottery winnings, before the 15 per cent tax is applied, confirming Sunday's lead story in the Observer.

"Finance Minister Dr Omar Davies admitted at a post-Cabinet news briefing at Jamaica House that the decision to tax winnings had led to a fall-off in sales of the popular `Cash Pot' game run by Supreme Ventures, while fuelling underground gaming.

"Cash Pot sales, which generated $970 million in August this year before the imposition of the tax on September 1, dropped to $508 million for the month of October, with the illegal betting operators apparently raking in the difference, Davies said.

"…The imposition of the $15,000 threshold was immediately welcomed by Supreme Ventures, but the company said it wanted to consult with the minister before the implementation of an alternative to the removal of the tax on winnings, which it said could hurt both the Government and lottery companies…"

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