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Russian Bookmakers Face tax Hike
RUSSIAN TAX HIKE PROPOSED FOR ONLINE BOOKMAKERS
Massive tax hike proposal receives first reading in Russian parliament.
Russia’s lower parliament, State Duma, has adopted a proposal that will see a monthly tax rate hike on online betting processing centres and totes (reception points) of 1900 percent from February 2017 amounting to between 2.5 and 3 million rubles (GBP 25,800 and GBP 30997,52), Russian business publication Vedomosti reports.
Tax levies currently stand at around 125,000 rubles per processing centre per month (GBP 1,291).
The Finance Ministry developed draft proposal which received its first reading in Parliament late last week was supported by the Committee on Budget and Taxes.
There’s been no consultation in terms of the size of the business, so I can’t understand how this proposed tax rate was calculated,” Nicholas Oganezov, chairman of the board of Self-Regulatory Organisation of Bookmakers (SRO) said. “When a business launches online, it is appropriate to set a lower rate as the operator does not have a database of participants or perhaps experience on the Internet - so the tax rate would deter them,” he said.
In addition, TSUPIS, a central processing centre for online bets that launched in February 2016 with the support of the SRO, would have the capability to fulfil the draft proposal’s requirement that online bookmakers keep records of all transactions.
The proposal still needs to get through another two readings in Parliament before being placed with Russian President Putin for his consideration.
Danske Spil Bingo Moves to Microgaming -
The national lottery of Denmark, Danske Spil, is live on the Microgaming Bingo Network. Danske Spil, the Danish national lottery, is live on the Microgaming Bingo Network following a change to its licence conditions.
Quickfire live on Strendus -
Quickfire powered by Microgaming is extending its reach in the LatAm region with the signing of Strendus. Strendus is the online division of Logrand Entertainment Group. The group comprises several companies that operate gaming and entertainment establishments in Mexico, running 14 land-based casinos in total.
Quickfire content live on BetatHome -
Online gaming and sports betting company bet-at-home was founded in 1999. Today the company has 4.8 million registered customers around the world, offering sports betting, casino, live casino, Vegas games, poker and virtual sports.
Microgaming has donated £30,000 between four charities -
Gift of Giving provides Microgamingís customers the opportunity to vote for one of several charities in their region. In lieu of Christmas gifts, £30,000 is split equally between four global regions: Isle of Man, UK and Europe, Africa, and Rest of the World.
Entertainment Betting Odds: 90th Academy Awards -
The Shape of Water leads Sundayís 90th Academy Awards (8 PM ET, ABC) with 13 Oscar nominations, but when it comes to Best Picture, this highly-acclaimed film is a +140 second-favorite behind Three Billboards Outside Ebbing, Missouri at Ė115.
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