ROMANIA SET TO AMEND GAMBLING TAX REGIME
30th December, 2014 at 14:28:47
Emergency draft ordinance approved by Government
According to the Romanian National Office for Gambling (RNOG), Romania's Government approved an emergency draft ordinance for the regulation of gambling earlier this week.
Odette Nestor, president of the RNOG said provisions in the ordinance include a switch from posting tax in RON to EURO, protection of the under-aged with reference to remote gambling and dispensing of the requirement that operators be Romanian nationals, all provisions Nestor believes bring Romania in line with the European Commission's requirements.
Through this ordinance, the Government has managed to regulate the online gambling sector, which was regulated in 2010, but not completely, Nestor was quoted by Agerpres.
We now have a legal framework that allows gambling operators to get licensed in Romania, and through this licensing, we will protect minors and Romanian players.
According to Romania Journal, the Government intends imposing taxes on gambling gains below EUR 133, a threshold previously exempt from tax.
The existing 25% flat tax rate levied on gambling and lottery gains is expected to be replaced by a progressive tax level that will apply to all gains on a daily basis.
- 1% tax levied against winning amounts cashed out below EUR 15 000;
- 16% tax against winnings from EUR 15 001 to EUR 100 000; and
- 25% tax on all winnings over EUR 100 000.
Gambling operators will be required to declare winnings to the State, while online gambling, slot machine, draws and poker tournament winners will be required to declare their revenues to the State tax authority each fiscal year.
Related News Tags: Lotteries, Romania