Another Russian Tax Shock For Online Gambling (update)

Additional 10 percent tax on internet betting sales proposed

The Russian Ministry of Finance has a strange way of creating the right tax environment to encourage online gambling operators, as demonstrated by its recent announcement of a tenfold hike in online gambling taxes paid by Russian bookmakers to 2.5 to 3 million roubles per operating region, along with a plan to make the already hard-pressed operators pay an additional 60 million roubles for sports development in the country.
This week the ministry struck another hammer blow, announcing plans for a further 10 percent federal tax on online betting sales, to be implemented at the end of 2016.
The proposal is open for public comment until May 5, and is expected to attract substantial protests once the fully detailed draft legislation is made available. There is confusion, for example, over how the ministry defines "sales", which could be revenue or — worse – turnover.

Online Casino News Courtesy of Infopowa

About the Author... Total Posts Written: 9,449
Casinomeister

Casinomeister

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 astrophography.
bryan@casinomeister.com

See More Posts