Gambling Tax Upped

Gambling Tax Upped
: Since start-years the crisis closed down 60 gambling-houses and one casino

Since start-2010 the profits of all gambling games organizers will be taxed with 12%. This would bring extra BGN 12 million to the state budget

Elena Dimitrova | 04.11.2009 16:18

Since the beginning of next year all organizers of sports games will have to pay a tax of 12% on their profits, the Parliament decided while adopting at first hearing the proposals of the government for amendments to the Corporate and Income Tax Law. With this decision the tax on state and private-owned tote, lotto, and betting on sports and random events, up to now 10%, goes up but level with the profit tax for lotteries and bingo, where higher rate was payable before. Tax will also be levied on all gambling devices on a companys inventory operation permit notwithstanding if on use or not. As result of this change budget revenues are expected to increase by some BGN 12 million per year, Deputy Minister of Finance Vladislav Goranov defended the amendments. The Blue Coalition and Order, Law, Justice (OLJ) insisted the rate should up to 15% and determined their request a condition for their support to Boyko Borissovs cabinet. MPs also rejected the draft-bill of C0-chair of the Blue Coalition Martin Dimitrov for reducing tax on dividends from 5% to 1%.

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