Bulgarian Parliament approves decrease in gambling tax
The proposal was motioned by MPs of the Bulgarian Socialist Party (BSP) and the Movement for Rights and Freedoms (DPS), headed by the chair of the parliamentary budget committee, Yordan Tsonev. As a result of the vote, from next year a corporate tax will be levied on bookmakers, lottery and lotto games organisers, as well as poker and online casinos.
Operators that wish to attain and maintain a gambling license in the country will have to pay a two-component fee, the first being a single fee of us$ 69,464 and the second being a monthly fee comprising 20% of the difference between the collective value of bets and their paid winnings.
Authorities said that the new amendments would reduce tax on gambling activities, with the threefold reduction doubled for the Bulgarian Sports Totalizer and almost tripled for online gambling. Current regulations subject operators to a 15% tax on turnover.
Many foreign bookmakers had been discouraged from operating in the country due to the existing regulations, but the Bulgarian Government hopes to attract more and increase budget revenues from the sector as a result.
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