Sign up for news

Pandemic in Belarus: How will the State Support the Gambling Industry?

19 May 2020, 12:56
Votes: 2

Belarus has developed a set of measures to support the economy in view of the negative impact of the coronavirus pandemic. Gaming operators have also been mentioned in this context, but everything is not so simple. Representatives of 1ante.com commented on the situation.

Pandemic in Belarus: How will the State Support the Gambling Industry?

The Tax and Duties Ministry of the Republic of Belarus of the country informs about exactly what business support will consist of.

The main relief is due to the delay and subsequent installment payments of tax credits. At the same time, this refers to those tax deductions that are fully transferred to the regional budgets. According to recent gambling news, the relief is valid for taxes that must have been collected from April 1 to September 30 of the current year.

It became known that companies can pay tax arrears from October 1 to the end of the year. Contributions must be paid in equal installments monthly.

Furthermore, there is a list of industries covered by the decree. It should be noted that gambling is not indicated among them. At the same time, the ministry notes that companies, including gambling, can contact the local authorities subject to the type of economic activity that they carry out, as stated in the list.

 “We also note that the tax on gambling is fully paid to local budgets, and support measures can also be introduced by local executive authorities. For this, the taxpayer must submit a special application. The grounds for revising the tax payment deadlines are defined in Chapter 5 of the Tax Code. The payment procedure should be developed by local authorities,” 1ante.com representatives explained.

1Ante specialists also added that regional and local authorities are vested with the right to make decisions regarding the reduction of tax amounts for certain categories of payers. This refers to taxes on real estate and land rental.

Local authorities may set the preferences indicated above for taxpayer groups determined by them at their own discretion.

Thus, representatives of gambling companies can contact the competent authorities, providing a rationale for their inclusion in the list of industries that get preferences.

Read more: What is the future of the industry of gaming in the USA?

Read more: What are the main aspects of online gambling in Europe?

Comments:

No comments

Now read
5 Jun
Up