Bulgarian internet gambling taxes proposal thrown
 December 16, 2007, 7:58 am (1 year ago)Controversial Bulgarian government proposals to alter the tax basis on the gaming in the country were at a stalemate over this weekend as lawmakers and attorneys criticized and rejected the cabinet's proposals as for this matter.
The amendments bill that was proposed to tax relates to betting firms are a flat 10 percent on profit, something that may or may not sound reasonable to the betting firms and the lawyers representing them this is rather than the current 10 percent of turnover, and sparked a hot debate and controversy on the parliamentary floor. The finance ministry's rationale for the proposal was that the change would leave a bigger share of the revenues with the State Lottery and State Raffle, which are used to subsidies Bulgarian athletes in the Olympics and more activities.
But the amendments, as mentioned in the proposal, would also take in place two private firms, the two are owned by Bulgaria's richest person, Vassil Bozhkov, namely lottery Euro chance and bookmakers Euro football.
This bill is probably seems to be more than a regular bill as even the socialist president of the country, Georgi Parvanov blasted the proposal, mentioning that he would veto the amended bill if it comes to table again.
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