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Bulagrian Tax Up - 2 percent increase on all gambling activity

11/5/09 - The Bulgarian government is currently levelling the gambling taxation field with an increase from 10 percent to 12 percent on all gambling activities as part of amendments to the Corporate Income Tax Act, reports Novinite.
 
The bill passed its first reading in the Bulgarian parliament this week, and affects a myriad other commercial activities in the country as well.
 
Should it be adopted at second reading, the change will come into force at the beginning of 2010 in a bid to rationalise the tax rate for all organisers of gambling activities. Sweepstakes, raffles and lotteries are already taxed at the rate of 12 percent.
 
The increase in taxes on the Bulgarian state lottery, the Lotto and betting on sporting competitions will boost state budget revenues by BGN 12 million, the deputy Minister of Finance, Vladislav Goranov, said.

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The Chair of the Parliamentary Budget Commission, Menda Stoyanova, declared her support for an increase in the tax on gambling, while the Blue Coalition and the Party for Order, Justice and Equality (RZS) proposed that this tax be increased to 15 percent.
 
According to other changes adopted, foreign EU companies will have a choice as to recalculation and consequent reimbursement of part of withheld taxes, in the same way as Bulgarian citizens are treated.
 
The MPs also adopted a measure to ensure that profits of foreign companies from sale of commercial sites would be taxed. Concessions in the amount of tax paid would be proportional to any donations made to the following Bulgarian organizations: Fund for Treatment of Children, Fund for Assisted Reproduction and Fund for Transplants.

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IGT Continues Partnership with Coljuegos EICE - IGT will continue its 16-year partnership with Colombian administrative gaming authority Coljuegos EICE following a public procurement process for a five-year private operator contract to run the draw-based online lottery game Baloto.

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Another Attempt to Acquire Tatts - The surprise A$8.4 billion bid for Tatts late last year by the Pacific Consortium caused some consternation in the Tabcorp and Tatts boards, which were in merger talks but these concerns faded following Tatts rebuff of the consortium's offer

US Supreme Court Interested in NJ SportsBetting Case - The US Supreme Court, which is for the second year mulling whether to hear New Jersey's case for wider legalized sports betting in the United States ) has showed some interest in the case.

Ladbrokes Trading Update - The Ladbrokes Coral plc online and land gambling group has released a trading statement for the unaudited year to 31 December 2016, reporting:

Leovegas Player Wins a BMW X4 - A 23-year-old Southampton University student identified only as Leo has won a GBP 50,000 BMW X4 sports saloon car playing NetEnt's Live Casino Roulette on the Leo Vegas mobile gambling,site.

New Survey on Europe Online Gambling Regulations - The companies delivered their conclusions, which include both EU and European Economic Area technical regulations, this week.

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