The Ministry of Finance published the guidelines for its budget and taxes from 2018 until 2020, directing this to double gambling taxes since January 1, 2018.
All land-based operators currently in the country don’t pay any taxes on gaming revenue but they do pay flat fees for gaming tables or electronic gambling machines, whilst bookmakers pay a similar flat fee for each retail they have. (READ SO: RUSSIA SEEKS TO SEE FLOURISHING PRIMORSKY KRAI GAMBLING)
The new regulations will be applied to both land-based and online gambling operators. Earlier this year it was revealed that the Russian government was looking for new ways to increase national gaming tax fees for all legal sectors of the industry.
The Ministry said that gaming tax rates, which haven’t increased the last in 13 years, will increase 10 times by 2020 in order to increase revenue from official budgets
Moreover, under a law signed by Russian President Vladimir Putin, bookmakers were subject to a new legislation in March that compels those that take bets on sports event to agree with “professional sports entities” on the use of logos and names of events on the basis of agreements to deduct certain sums from the proceeds. (READ SO: ONLINE CASINO: MATHEMATICIAN TURNED INTO A HACKER)
It’s been estimated that at least US$264k overall are deducted per quarter.
