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Bulgarian gambling Tax Not Resolved
11/26/09 - Last week's compromise tax of 12 percent on all Bulgarian gambling turnover may have suited members of parliament, but it has not gone down well with prime minister Boyko Borisov, who wanted to balance the budget with a 15 percent tax.
Borisov's plan was to use the tax revenues generated by a 15 percent rate to avoid tax increases on hard liquor and maintain assistance to young Bulgarians trying to purchase a first home.
The Novinite news agency reports that after discussions with the parliamentary Speaker, Tsetska Tsacheva, Borisov announced that he had asked his GERB party and parliament for the 15 percent rate. However, parliamentarians had already approved amendments eliminating the first home proposal.
Characterising the amendments as a mistake, the prime minister vowed to reverse these decisions.
The prime minister told local media that he required the 15 percent gambling tax to balance the budget and allow him to meet commitments to Bulgarian grape growers not to increase the hard liquor tax.
The Bulgarian parliament voted at first reading on November 4, 2009 in favor of an increase in the tax rate on gambling activities from 10 percent to 12 percent as part of amendments to the Corporate Income Tax Act . The amendments are expected to come into force in January 2010, harmonising all Bulgarian gambling tax rates.
The Bulgarian Association for Entertainment and Gambling Games has protested the 12 percent rate, saying it will cause the collapse of the gambling industry with the loss of 40 000 jobs.
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Tim Chung Wins MPNPT Manchester -
The 288-runner £550 MPNPT Manchester Main Event today crowned its champion, awarding the bulk of the £150,000 total prizepool to the nine players surviving after two days of tournament poker at the Grosvenor Casino.
MPNPT Manchester Day 2 -
Day 2 of the £550 MPNPT Manchester Main Event saw 60 Day 1 survivors (from a total of 288 entries) and three intrepid last-minute registrants sit down to play to the final table.
Day 1B MPN Poker Tour Manchester -
Day 1B of the £550 MPNPT Manchester Main Event saw the field rise to 285, as players took full advantage of the whole-day re-entry period.
Day 1A MPNPT Manchester -
The £150,000 guaranteed MPNPT Manchester kicked off today in style – 74 poker players from all over Europe arriving at the Grosvenor Casino to contend the first of two starting days
Kung Fu Rooster Slot Goes Live -
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Sensational Sixes Slot Goes Live -
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3 New Betsoft Slots -
3 new Betsoft slot Games were also added this week to most online casinos allowing US players.
2017 Bodog Super Millions Poker Open -
The first events on the 105-tournament schedule have already been completed; there are three more tourneys on Thursday’s schedule, with a total of $34,000 in guaranteed prize money waiting to be won.
Pokerstars Pulls Out Of Coloumbia -
Pokerstars Has taken the decision to cease offering real money services to players located in, playing from or resident within Colombia, effective from the 17th of July 2017.
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