Russia mulls further increase in gaming tax
It has been reported that the Russian Parliament will shortly sit down to discuss a new bill which would see a tax hike in all gambling activities across the country.
The parliament is set to review on 10 November a further amendment proposed by the Finance Ministry that would increase overall gaming taxes in Russia.
Under new bill, operators would see gaming tables increase their levies up to $4300, from the current $863. Slots machines will also suffer heavy taxation, with new fees reaching $250, a punitive jump compared to the current $51.
Additionally, the state document is also considering a tax surge for online betting processing centres or TSUPIS. These would see an increase from $43k to $51k.
This shocking news falls into Russia’s 2018-2020 fiscal budget and follows the announcement by the Ministry of Finance in which it was revealed a double taxation starting January 1, 2018.
Last month, the Ministry confirmed the government plans to gradually rise gaming taxes by a factor of 10 before the end of 2020. Russian land-based and online gambling operators quickly raised their concerns over the new tax regime, which hasn’t changed in 13 years.
Although land-based operators currently don’t pay any taxes on gaming revenue but they do pay flat fees for gaming tables or electronic gambling machines, new regulations will be applied to both businesses.
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