Bulgaria May Cut Gambling Tax Rate

This story was published more than 12 years ago.

Officials in Bulgaria's government have indicated that the current tax rate of 15% levied on internet casino operators will be halved by June 1st.

Earlier this week a Spokesman for the Citizens for European Development of Bulgaria said the tax rate would definitely be lowered to around 6-8% due to worries that the high tax rate would send operators to more tax friendly countries.

An anonymous source from the country's Parliamentary Budget and Finance Committee verified that the country is rethinking the tax rate, saying: "...no foreign operator would come to Bulgaria, because the taxation would be very high."

An overhaul of the tax rate on operators has been discussed for months when Menda Stoyanova, the Parliamentary Budget Commission Chairperson predicted the rate would be lowered.