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GOOD NEWS FROM BULGARIA ON GAMBLING TAX
22nd October, 2013 at 07:18:39
Parliamentarians intend to reduce proposed online gambling tax rate.
Following closely on the heels of a Bulgarian operator trade association's complaints that proposed taxes on internet gambling are too high (see previous reports) comes news from the publication Novinite that Parliament intends to lower taxes on remote gambling in order to stimulate offshore registered operators to register and pay taxes in Bulgaria.
Sports betting operators have repeatedly complained that the current tax rate of 15% too high, and will drive operators to register at more tax-friendly jurisdictions, denying the government taxes and job creation.
The present taxation regime on internet gambling needs to be liberalised in a way that will attract foreign registered operators to register themselves in Bulgaria and pay their taxes here, Yordan Tsonev, an MP from the Turkish Movement for Rights and Freedoms and chair of the parliamentary budget committee told Kapital Daily.
He added that at present some online betting companies prefer to register in offshore taxation havens to sidestep Bulgaria's gambling taxes and are operating in the grey area with no license, but a decrease of the taxation rate would attract them to enter the Bulgarian market officially and to pay their taxes in the country.
Earlier this week Bulgaria's State Commission on Gambling added another ten websites to its blacklist of illegal online gaming operators, bring the total number of blacklisted domains to over 150 (see previous report).
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