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HUNGARY ONLINE GAMBLING TAX PROPOSAL
Monday, September 26, 2011 : Specifics in tax amendment proposal
More details have emerged on proposed Hungarian online gambling regulations with a tax amendment proposal submitted to Parliament by the governing Fidesz party, according to local newswire MTI.
The amendments are based on a bill authored by Economy Minister György Matolcsy submitted to a parliamentary committee earlier this month.
Fidesz party member Antal Rogán, who also heads up the Hungarian parliament's economic committee, has proposed that internet gambling operator permits are subject to tax authority approval as of January 1, 2012 at a tax rate of 20 percent on net revenue, payable each month following a reporting period.
Permits would be valid for a five year period with a renewal option of a further five years.
Potential permit applicants would have to have a minimum registered capital of HUF 200 million in a member state of the European Economic Area as well as a "specific certificate" validating the company's credentials in that particular line of business, failing which a higher but unspecified "insurance" sum would become applicable.
Illegal operators will be sanctioned, facing fines of HUF 10 to 100 million.
Horse race betting and online card games have been included in the tax net, if operated via an electronic communication network.
Danske Spil Bingo Moves to Microgaming -
The national lottery of Denmark, Danske Spil, is live on the Microgaming Bingo Network. Danske Spil, the Danish national lottery, is live on the Microgaming Bingo Network following a change to its licence conditions.
Quickfire live on Strendus -
Quickfire powered by Microgaming is extending its reach in the LatAm region with the signing of Strendus. Strendus is the online division of Logrand Entertainment Group. The group comprises several companies that operate gaming and entertainment establishments in Mexico, running 14 land-based casinos in total.
Quickfire content live on BetatHome -
Online gaming and sports betting company bet-at-home was founded in 1999. Today the company has 4.8 million registered customers around the world, offering sports betting, casino, live casino, Vegas games, poker and virtual sports.
Microgaming has donated £30,000 between four charities -
Gift of Giving provides Microgamingís customers the opportunity to vote for one of several charities in their region. In lieu of Christmas gifts, £30,000 is split equally between four global regions: Isle of Man, UK and Europe, Africa, and Rest of the World.
Entertainment Betting Odds: 90th Academy Awards -
The Shape of Water leads Sundayís 90th Academy Awards (8 PM ET, ABC) with 13 Oscar nominations, but when it comes to Best Picture, this highly-acclaimed film is a +140 second-favorite behind Three Billboards Outside Ebbing, Missouri at Ė115.
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