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Bulgaria Set to Change Online Gambling Taxation Laws

Bulgaria Set to Change Online Gambling Taxation Laws

A bill tabled in the Bulgarian Parliament is set to change the way it taxes the gambling industry, it will bring the country closer in line with standard policies across Europe and put an end to the blacklisting of online gambling operators.

Bulgaria Set to Change Online Gambling Taxation Laws

A bill has been put forward which will replace the 15% tax on gambling revenues with a more standard policy.

The key provision of the bill is to replace the 15% tax on gambling revenues with a one off licensing fee of 100,000 leva and a 20% tax on the “difference between the bets made and the winnings paid out.”

Online gambling operators frequently complain about Bulgaria’s taxation laws saying that it makes operating in the country unprofitable.
At the same time the Bulgarian Gambling Commission has blacklisted a number of gambling websites and had them blocked by Bulgarian internet service providers.

The bill has received the backing of the London based Remote Gambling Association, one of the largest trade associations in the online gambling industry.

If the bill is passed then European operators would apply for Bulgarian gambling licenses and pay taxes in Bulgaria for their operations in the county. However, it is not yet known when the bill will come up for debate on the parliamentary floor.

OCA News Editor

Jenny McKinnley is OCA’s financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.

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