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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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Gambling News :

Playtech Acquires ECM Systems - Online gambling soiftware provider Playtech plc has announced the acquisition of a ninety percent stake in UK bingo software developer ECM Systems for a consideration of GBP 14.9 million.

Marks and Spencer store Manager steals to Gamblie Online - The Cambridge News reports that a 28-year-old manager of a Marks and Spencer store, Martin Trenor, has been jailed for three years for stealing GBP 254,538.11 in shop takings over the course of a year and spending it almost immediately at online gambling websites.

Chinese Gambling crackdown could damage high roller revenue - Fast-moving events this week have seen Australian media reports quoting hundreds of millions of dollars wagered by Chinese high rollers in Aussie land casinos, offset to some extent by Crown claims that this whale gambler" demographic generates only 12 percent of turnover.

EvenBet Open Face Chinese Poker - Open Face Chinese Poker online games provider EvenBet has reported that its Open Face Chinese Poker product is gaining traction with games recently integrated for desktop action at the Malta-licensed operational site Poker Grant.

PartyPoker Millions tournament guarantee Now GBP 6 million - Online poker operator PartyPoker announced Thursday that it is to boost its PartyPoker Millions tournament guarantee by a million sterling to GBP 6 million, claiming it is now the biggest prize pool guarantee in European poker history.

2016 EPT Malta - The European Poker Tour is off to a good start in Malta, with German pro Dietrich Fast claiming a well-earned Euro 174,000 main prize in the Euro 10,000 buy-in Single-Entry Rebuy event.

Novomatic has announced a legal action against Euro Games Technology - Online and land gambling equipment and games provider Novomatic has announced a legal action against Euro Games Technology Ltd., which it claims has unfairly created imitations of its slot games.

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Team Hot Launches - #teamhot The Philippines licensed and GGNetwork-powered online poker operator Natural8 has announced the appointment to its "Team Hot" professional player line-up of Asian poker aces Kitty Kuo, Xuan Liu and Dong Kim.

Netent Q3-2016 Earnings Report - #netent The UK continues to be an important growth driver but the weaker pound had an estimated negative effect of about three percentage points on revenue growth compared to the same quarter last year.

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