Casino News: Not a good idea to increase the Bulgarian gambling tax

Not a good idea to increase the Bulgarian gambling tax

 November 22, 2009, 11:48 am (8 years ago)
Anxiety that there is a chance that the lately submitted 10 % Bulgarian gambling tax would be increased to 15 % weakened in the National Assembly Friday as the Budget Commission refused a movement by conservative politicians to increase the tax by additional five %.

According to the Novinite news agency, the conservative group “Law, Order, Justice” (RZS) and associates of the Blue Coalition had suggested that the gambling tax be increased from 10 % to 15 %, stating that this is supposed to be estimated based on a revenue.

However, even though the 15 % augmentation proposal did not succeed, a suggestion to raise the tax to 12 % based on income passed the Council of Ministers. Some of the other taxation actions passed were a quarterly tax on gambling and betting machines.

The latest taxes come into effect in January 2010 as part of a revised Corporate Income Tax Act.
The Bulgarian Association for Entertainment and Gambling Games, which had previously advised that tax augmentation, could be the ultimate damage to fighting gambling companies repeated its warning that the augmented taxation could lead to the collapse of the business, and possibility of 40,000 jobs to be lost and government incomes.
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