Bulgaria to Lower Gambling Tax Rate By 2014
Bulgarian regulators have proposed that the current gambling tax rate should be lowered, in order to attract a higher number of online gambling operators. The current system imposes a harsh 15 percent tax rate on gaming sales, a level which does not offer lucrative results to operators who seek to buy casino games. More than that, the government recently asked internet service providers to block more than one hundred foreign gaming companies who tried or could try to offer their products to eligible Bulgarian players.
The new gambling law, which would hopefully appeal to more operators who are looking to buy casino games in Bulgaria, would reduce the current gambling tax level to 20 percent of gross profits, instead of the 15 percent turnover tax. Furthermore, the proposal would include other clauses which refer to the fact that gaming companies who will be licensed in Bulgaria will have to pay a license fee of BNG 100,000 (EUR 51,000). The proposal referring to the license fee has already been approved by the Remote Gambling Association. At this point in time, there are already 11 parliamentarians who are in favor of the law which has been presented on November 13. If the new gambling legislation will be approved, it would probably come into force at the beginning of 2014.
BY CASINOWEBSCRIPTS PUBLISHED 18 November 2013