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Czech Republic To Increase Taxes For Gambling Operators

Czech Republic To Increase Taxes For Gambling Operators
Czech Republic To Increase Taxes For Gambling Operators

The gambling operators in the Czech Republic will have to pay more taxes from the coming year. The Czech finance minister Alena Schillerová has said that the new revised and increased taxes for gambling operators will come into effect from 2020.

Clearing the air, and putting an end to all speculations, Finance Minister Schillerová confirmed: “The government has just approved a long-awaited Tariff package for tobacco, hard alcohol, and gambling taxation by the Ministry of Health and the National Drug Coordinator. It responds to the increase in their availability as a result of rising living standards in the Czech Republic.”

As present the gambling operators in the country are taxed at 23 percent on gross gaming revenue (GGR); however, the gaming machines are taxed at a significantly higher rate of 35 percent of GGR.

It is also announced that the new tax policy will have a three-tier system with taxes depending upon the risk factor involved.

Explaining why the country needs a new tax policy, the finance minister explained: “Our country has made considerable progress in combating addiction in recent years. We all remember the weed-filled housing estate or the smoky restaurants and public areas.

“Even in 2012, there were an incredible 75,000 vending machines in our country, and 7,500 gaming rooms, and cigarette smoke accompanied us at every turn. Measures that have significantly eliminated these negative phenomena are returning us to the civilized world, but expert figures show that we must remain active.

“The increase in excise duties not only reduces the availability of addictive substances, but also raises funds to support prevention projects.”

Earlier, Czech Finance Minister Alena Schiller, who comes from the country’s popular ANO party, called for an increase in tax on all vices including lotteries, gambling, and sports betting.

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Utsav Kumar

Utsav Kumar

With a masters in literature and passionate about evolving technologies, Utsav has been covering the latest from the world of Blockchain, Artificial Intelligence, and AR for several online and print publications. He strongly believes that these evolving technologies have immense potentials to redefine existing online gambling infrastructures and can dramatically improve standards of customer protection. Utsav covers mostly compliance updates and other latest technical developments that impact the global casino and gambling industry. He can be reached out at utsav_kumar@casino.buzz

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