Investors dodge tax bullet, discuss development plans

Operators in Russia’s Far East have won a reprieve from a potentially punishing new tax regime and are now discussing further development plans with the government of the zone. In November last year, President Vladimir Putin signed into law changes that allow Russia’s gaming zones to double the tax they charge as part of a plan that may see taxes surge tenfold by 2020. As part of those changes, the central government also announced it would force casinos to collect tax on client winnings, though did a subsequent U-turn on that measure following an outcry from the industry. After listening to representations from operators, the government of the Primorye region, where the Primorye Integrated Entertainment Zone is based, chose to maintain the current tax regime to keep investors happy. “Since the founding of the gambling zone, residents have invested about RUB11 billion (US$193.8 million) in the economy of the region, created a...

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