Czech Republic to Lower Betting Tax

Czech Republic politicians have reportedly come to an agreement to lower the gambling tax on operators in their country from 25% to 23%.

Currently, the country's industry tax on gambling sits at 20%, and many operators were fearing that the 5% increase on revenues could end up causing damage to their bottom line. It is thought that the lower rate would save companies such as the Fortuna Entertainment Group more than 30 million Czech crowns in the upcoming year.

To offset the industry tax, slot machine operators in the country will be subject to a higher tax rate, going from 25% to 28%. Companies will also be subject to a tax of 110 crowns per machine per day.

Commenting on the agreement Czech politician Roman Sklenak said, "We agreed in the coalition council that this amendment should be filed."

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