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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.
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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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 -
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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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