The Czech Republic looks set to raise tax on gambling winnings after lawmakers in the country’s lower house gave their initial approval to a bill that would allow for an increase.
According to the Reuters news agency, the bill passed the first of three readings last week and, should it succeed in further readings, it would enable lawmakers to increase tax on winnings.
Tax on winnings from lotteries and sports betting would increase from 20% to 23% while a 28% tax will be imposed on slot machine winnings.
The move could lead to the country collecting an additional CzK2 billion (€73.8 million/$81.2 million) per year.
The initial approval comes after the Czech Republic coalition government last month announced that it would scale back planned tax increases for the betting and gaming industry, but added that it would increase rates for slot machines.
Leaders of the Social Democrats, ANO movement and Christian Democrats agreed that the tax for betting companies would rise to 23% from the current 20% threshold – lower than the rise to 25% put forward by the country’s Finance Ministry.
However, a planned increase to 25% has been edged up to 28% for slot machine operators.
source : www.igamingbusiness.com
