Russia to hike up betting shop and slot machine tax

    The Russian Finance Ministry is planning to double the tax for betting shops and slot machines, local media reports.

    The remarks were made by Deputy Finance Minister Alexei Moiseyev during a briefing at the Moscow Financial Forum on Friday.

    “We believe that they [the taxes] should be adjusted, we are planning to increase them twofold. But our plan is to keep increasing them further, depending the tax collection and the reaction of the business,” Moseiyev was quoted by privately-owned Interfax news agency.

    The official also noted that the tax had not been indexed for over 10 years.

    The tax rates on gambling are determined by the Russian Federation constituent entities within the limits approved at the federal level.

    The minimum rate for a slot machine is currently RUB 1,500 ($23.50) and the maximum rate is RUB 7,500 per month, while betting shop and totes pay from RUB 5,000 to RUB 7,000.