Gambling Business Tax Burden to Rise 2.5 times Next Week

The top and bottom margins of the gambling business duty rates have risen 2.5 times.

The Georgian parliament adopted the bill of amendments to the law on gambling business duties on October 12. The bill will come in force next week.

Under the legislation, the gambling business duty rate per cash desk has increased to 7 500 GEL to 3 750 GEL from 1500 to 3000 GEL.

The bill has been proposed by the Georgia President and its was to come in force in September 2010, but the parliament failed to adopt the bill during the spring session.

Deputy Finance Minister Natia Mikeladze told GBC companies, which have taken the first of September a s a benchmark for paying the increased taxes, will be considered to have paid the due in advance.