New gambling taxation law in Bulgaria
A blacklist that bans a number of betting websites from operating in Bulgaria is set to be scrapped under a new law that alters the way the country taxes members of the gambling industry.
According to the Sofiaglobe.com website, the bill of amendments would bring the country’s legislation closer to international practices.
Raised in Parliament on November 13, the bill was put forward by 11 MPs from the two parties in Bulgaria’s ruling axis.
The key focus of the new bill is the change in how gambling is taxed, replacing the existing 15% tax on gambling revenues with a one-off licensing fee of L100,00 (€51,127/$69,464) and a further 20% tax on certain incomings.
Online gambling operators have been critical of the current system, arguing that it makes operations in the country unprofitable, leading them to opt against registration in Bulgaria.
This in turn has led Bulgarian authorities to ‘blacklist’ such operators, requesting by court order that Bulgarian internet operators deny access to such gambling websites.
Should the bill be passed in Parliament, European online operators would need to apply for Bulgarian gambling licenses and pay taxes in the country for their operations there.