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Bulgaria Casinos and bingo halls paid BGN 99, 5 million of income tax in 2009
3.1.10 - The Bulgarian government is doing rather well out of gambling taxation, according to the Sega Daily newspaper...so well that profits declared by gambling companies exceeded those of the entire Bulgarian banking system in 2009.
The newspaper reports that casinos and bingo halls paid BGN 99, 5 million of income tax, while the total contribution of Bulgarian banks to the state budget will be BGN 78 million from their BGN 780 million profit.
Late last year the possibility of raising Bulgaria’s tax on gambling to 15 percent from January 2010 was the subject of public debate after a Finance Ministry survey showed that increasing the tax on the pastime was supported by 84 percent of respondents.
Amendments to the Corporate Revenue Act were adopted by Parliament at first reading on November 4 last year and increased the tax rate to 12 percent from 10 percent. But Parliament's budget committee chairperson Menda Stoyanova said that there could be a toughter increase, hinting at a 15 percent benchmark.
Fixed-odds sports betting firm Eurofootball is apparently the main tax contributor, with sports and national lottery bets. The company has protested against tax hikes, claiming that the Bulgarian gambling tax is about five or six times higher than the tax imposed on other commercial entities operating on the Bulgarian market because it is based on turnover, without deducting payment and activity expenses.
The current chairman of the Bulgarian State Gambling Commission is Koloyan Krastev, who was recently appointed by Finance Minister Simeon Djankov. Media reports indicate that the duo were classmates at the English Language High School in Lovech.
Born on February 19, 1970 in Pleven, Krastev has a law degree from Sofia University and previously worked in the legal department of the Bulgarian ING Life Insurance and Retirement Accounts Offices.
3 Top Bitcoin Poker Sites -
Bitcoin, in particular, is a cryptocurrency that you can use on various online poker sites and it allows a faster and cheaper way to get money into and out of the online poker site.
Kentucky Derby Odds: Justify still Favorite -
With all the races on the Road to the Kentucky Derby complete, Justify is still on top of the odds list at 4/1. But he’s got company: Mendelssohn (9/2), Audible (11/2) and Magnum Moon (8/1) are all very much in contention for the big race on May 5.
888Poker Takes Over the States -
With more and more states moving toward online casino integration, an increasing number of international players are moving in on American territory. Who will take the crown of the most popular online poker venue in the United States?
Top gambling ICOs to watch this year -
The gambling ICOs that are being launched in 2018 are of better quality. Unlike the last half of 2017 when ICOs were numerous, the first few months of 2018 have seen a big drop in number.
MPN Poker Tour Bratislava | Day 2 -
It was a hard fight around the bubble, culminating in the elimination of Georgios Drakakis in 46th place. He received a surprise consolation entry into the next MPNPT stop in Sunny Beach, Bulgaria (5-8 July), which softened the blow of missing out on a €900 min-cash.
MPN Poker Tour Bratislava Day 1B -
Dorey Captures Chip Lead After MPNPT Bratislava Day 1b Triples 1a Field Size. The second flight of the €550 MPN Poker Tour Bratislava Main Event is in the bag, and so are the chips of 97 players who will be returning along with the 26 Day 1a survivors to fight to the money and beyond today
MPN Poker Tour Bratislava Day 1A -
The MPN Poker Tour has arrived in Bratislava for the very first time, bringing with it the Tour’s friendly mix of local and globe-trotting poker enthusiasts, pros and qualifiers to the beautiful Slovakian capital.
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