Maximum tax levy per gaming table would double if bill signed by Putin
A draft bill to raise the maximum tax leviable per gaming table to RUB250,000 from RUB125,000 and the maximum tax leviable on gaming machines to RUB15,000 from RUB7,500, has been approved by the State Duma on its first reading.
For a new law to be enacted in the Russian Federation, the draft bill has to pass through three readings in the State Duma, and the Second Reading of the gaming draft bill is due to be held on November 10, 2017. The draft bill will still have to pass through its third reading in the State Duma, and finally be approved and signed off by the President.
According to Summit Ascent Holdings, operator of Tigre De Cristal casino, the approval of the draft bill would mean a potential doubling of gaming tax rates in Russia. In a statement, Summit Ascent holdings, said: It is too early for the board of directors of the Company to predict whether the above proposed changes will become legally enforceable.”
Warning investors of the potential tax hike in Russia, Summit said that it had been in contact with representatives from the Primorsky Government, the special Gaming Zone in Russia, regarding the tax changes and found that “it is the current intention of the Primorsky Government to maintain the tax rates at existing levels should the bill be enacted.” (E-11.09.17)