Sports Tax Relief For Russian Bookmakers
By Casinomeister, Last updated Nov 18, 2016
Mandatory donation to sports development reduced by two thirds
Russian online and land bookmakers will be heaving a sigh of relief this week at the news that the Russian government's mandatory 3 percent of revenue per quarter bookmaker's 'donation' to sports development has been reduced to 1 percent per quarter.
The more reasonable level set by the Finance Ministry follows widespread protest by bookies that 3 percent per quarter would so erode already slim margins as to force them out of business.
Darina Denisova, director of the Association of Bookmaking Shops trade body, said in a statement:
"I am glad that the Finance Ministry has given ear to the position of the betting community and was able to promptly make adjustments. But I want to add that this is only the beginning of a dialogue between the state and bookmakers.
"Our industry still needs well-defined "rules of the game" in regard to taxes, which should be clear and reasonable for licensed market participants."
Online Casino News Courtesy of Infopowa
The man with the plan here at Casinomeister. Bryan Bailey has been running Casinomeister since its launch in June of 1998. He has watched the industry grow from its primeval stage to what it is now. The Meister has attended nearly 100 conferences in the past 20 years and has either been a speaker or a panel moderator for at least 60 events. He has always been an advocate of fairness and reason and is known to like German beer, a good Scotch, and astrophotography.
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