Russian finance ministry confirms significant rise in gambling taxation

Speculation on an increase in Russian gambling taxes has been rife for months, and on Friday the worst fears of operators were realised when the Russian Ministry of Finance formally announced through its budget notifications that gambling taxes will double from January next year, rising ten-fold by 2020.

Apparently undeterred at the possibility of killing the goose that lays golden eggs, the Ministry justified its decision by pointing out that there has been no increase in gambling taxes since 2004, and that the massive increases are necessary to augment tax revenues, and will be applied on a regional basis and paid where gambling companies’ operations are located.

The tax increases will impact casinos, online and retail bookmakers, lotteries and sweepstakes, and initiate taxation on processing centres for interactive betting shop bets, and interactive betting rates.

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