The Ministry of Finance of the Czech Republic has defended the decision concerning the introduction of the higher taxes on some gambling activities after concerns regarding its possible negative consequences were expressed by a national newspaper.
The newspaper states that the body’s decision to increase taxes might harm the Czech land-based market. However, the Ministry expressed the opinion that income the country would receive thanks to the higher taxes would be utilized to protect people from gambling-related problems.
At the beginning of next year, a new body will split taxes into three categories depending on how deleterious, in the government’s opinion, they are. The current gambling tax in the Czech Republic is twenty-three per cent of gross gaming revenue (GGR), except for gaming machines that are taxed at thirty-five per cent of GGR.
Live games, bingo and lotteries operators are now taxed at twenty-three per cent but this rate will be increased to thirty per cent. Besides, the rate for fixed-odds betting will be raised from twenty-three to twenty-five percent.
As mentioned earlier, la Junta de Control de Juegos, the state institution overseeing the gambling industry in Panama, plans to cancel a tax on gambling in order to draw on more foreigners.