The Ministry of Finance (Minfin) is a federal executive body, responsible for general financial policy and for general management in the field of finance of the Russian Federation.
The Russian Finance Ministry has initiated a two-fold increase in gambling tax rates, applying to all taxable gambling activities, according to the government website. The increase comes from the latest amendments to the draft law, which passed the first reading back in May, 2016. The amendments set the following tax rates: from RUB 50,000 to […]
Russian bookmakers have welcomed the Finance Ministry’s decision to soften the requirements in which bookmakers and totes need to give part of their proceeds for the development of sports. The new version of the bill was published on the government’s official website on November 15. According to the latest version of the bill, the ministry […]
The Russian Finance Ministry has published new amendments to the law on gambling which require bookmakers and totes to give part of their proceeds for the development of sports, Russian news outlet Vedomosti reports. In 2015, the sports minister at the time, Vitaly Mutko first proposed that bookmakers should support the sports industry. The bill […]