Russia initiates two-fold gaming tax hike

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 250,000 (US$800 to US$4,000 dollars) per gaming table; from RUB 3,000 to 15,000 per slot machine, and from RUB 50,000 to 250,000 per processing centre run by a tote or a bookmaker.

Tax on betting shops ranges from RUB 10,000 to 14,000.

The document also maintains the same tax rate on an online bet processing centre (TSUPIS) as the draft law, RUB 2.5 to 3 million, which is not in place as of now.

In related news, bookmakers operating on the Russian territory are reportedly queuing up to join online bet processing centres.

Both Pari Match and Bet City announced they will start processing e-bets in spring, while BaltBet will go at it on 25 January.

There are two TSUPIS  currently operating in Russia, run by two rivalling self-regulating organisations of bookmakers.