Gambling operators in Romania are currently going through a rough patch in the context of the recent regulatory adjustments in the Fiscal Code. The new regulations that are forcing them to increase the taxes on player winnings were ratified by the country’s Parliament and will go into effect starting August 1. All licensed online and […]
Licensed regulated gambling in Michigan boosted schools with taxes for more than $2.5 billion between 1999 and 2021, reveals a new report released by the regulator in the state. MGCB Celebrates a Landmark Moment The Michigan Gaming Control Board (MGCB) announced Thursday that it had collected more than $2.5 billion from casinos in Detroit, as […]
The Australian state of Queensland will introduce a significant increase to the taxes that corporate sports betting companies pay. This was announced by the state government today. Queensland Levels the Playing Field Queensland’s vision is to change how racing is funded. To that end, a new 5% racing levy will be introduced. This adds to […]
Sports betting operators from the self-governing Northern Territory (NT) in Australia shared their concerns regarding a possible increase in taxes, a new report suggests. A New Report Claims Increase in Taxes May Impact the Sports Betting Industry in Australia On Monday this week, ABC released details obtained under the Freedom of Information law regarding submissions […]
Michigan’s Governor, Gretchen Whitmer, has ushered in a new age for gambling by signing Senate Bill 764. The bill was signed last week and effectively overwrites some of the Income Tax Act of 1967. Senate Bill 764 Will Allow Bettors to Deduct their Losses from Taxation Thanks to the new bill, punters across Michigan will […]
Malta is mulling on how to sweeten the impact on businesses, including some large gambling companies headquartered in the island country, from the upcoming tax rate hike in 2023, an article in the Times of Malta speculates. Gambling Hub Status under Threat The new corporate tax that will be introduced will be in line with […]
HM Revenue & Customs (HMRC) has accepted a new proposal considering the gross gaming yield (GGY) tax bands. According to this new policy, the GGY tax bands that are applied to the earnings of land-based casinos will expand. The main goal behind these new tax bands is to maintain the duties of casino operators at […]
Mobile sports betting operators’ deadline to amend their proposed tax contribution expires today at 5 PM as told by the New York State Gaming Commission (NYSGC). The Commission also confirmed that a GGR rate of up to 64% could apply to applicants. The Highest Tax Rate Has Been Selected, According to the Commission The NYSGC’s […]
Puerto Rico is having some difficulty evolving its gaming industry, and this is causing financial losses and a lot of frustration. There have been legal battles waged over the past couple of years that have slowed down the introduction of a new framework and the brakes have been pumped once again. A plan to introduce […]
Brazilian President Jair Bolsonaro has signed a law that will alter the country’s sports betting taxation system to a revenue-based one. President Jair Bolsonaro Signs New Sports Betting Taxation Law Last week, Brazil’s Official Gazette published Law No. 14,183, of July 14, 2021, which changes the rules on sports betting taxation. The new law modifies Chapter […]
