New efforts are being made in Belarus to introduce a legal and regulated online gambling market, it was see last week.
The country’s Minister of Taxes and Levies, Sergei Nalivaiko introduced a bill that will hopefully tap into the revenue that the country is losing out of by not having a regulated industry.
The idea of Nalivaiko’s proposal is to introduce, among other things, a state-run online gambling portal, which will have the express role of overseeing the management of taxation in Belarus’ gambling industry. The proposal is built on previous efforts to legalize online gambling in Belarus.
In a statement, the Minister said: "At this stage, considering the planned legalization of online gambling and additional investments needed to organize a new type of activity in the gambling business, the Ministry of Taxes and Taxes does not plan any changes in the taxation policy of this activity.”
“Thus, fixed rates for gambling tax are planned to be maintained for the next three years without changes, at the level of tax rates established for 2018,” he added.
If and when Belarus introduced a legal and regulated online gambling industry, it could make $5.1 million in tax in the first three years of operation.
The Republic of Belarus, with its overall population of around 10 million people, offers its citizens the chance to play games in casinos and to wager in sports betting parlors. The majority of the landlocked country’s gambling activities are centered around the capital, Minsk where there are several licensed casinos. There are a total of 32 government-endorsed gambling facilities dotted around the country, and 27 of them are found in or around Minsk. Throughout the capital, players will find no less than seven branches of the Club Admiral casino brand.
For those seeking to visit Belarus’ biggest gambling hall, the Juravinca Princess Casino is definitely the place to visit. This location offers a wide range of gambling activities spread over its 7,500 square feet, including 75 gaming machines, several table games such as Roulette, Blackjack and Poker and a casino floor that is open 24 hours a day and 7 days a week – all year round.
In the meantime, the Tax and Duties Ministry, which formulated the new draft decree is awaiting the Parliament’s final approval of the law that will change online and well as offline gambling.
For example, the draft document provides an increase in the age limits for visiting a gambling establishment (from 18 to 21).
Online bookies will be given a transitional period of two years to apply for a license and meet strict new criteria listed in the draft document.
The country’s Minister of Taxes and Levies, Sergei Nalivaiko introduced a bill that will hopefully tap into the revenue that the country is losing out of by not having a regulated industry.
The idea of Nalivaiko’s proposal is to introduce, among other things, a state-run online gambling portal, which will have the express role of overseeing the management of taxation in Belarus’ gambling industry. The proposal is built on previous efforts to legalize online gambling in Belarus.
In a statement, the Minister said: "At this stage, considering the planned legalization of online gambling and additional investments needed to organize a new type of activity in the gambling business, the Ministry of Taxes and Taxes does not plan any changes in the taxation policy of this activity.”
“Thus, fixed rates for gambling tax are planned to be maintained for the next three years without changes, at the level of tax rates established for 2018,” he added.
If and when Belarus introduced a legal and regulated online gambling industry, it could make $5.1 million in tax in the first three years of operation.
The Republic of Belarus, with its overall population of around 10 million people, offers its citizens the chance to play games in casinos and to wager in sports betting parlors. The majority of the landlocked country’s gambling activities are centered around the capital, Minsk where there are several licensed casinos. There are a total of 32 government-endorsed gambling facilities dotted around the country, and 27 of them are found in or around Minsk. Throughout the capital, players will find no less than seven branches of the Club Admiral casino brand.
For those seeking to visit Belarus’ biggest gambling hall, the Juravinca Princess Casino is definitely the place to visit. This location offers a wide range of gambling activities spread over its 7,500 square feet, including 75 gaming machines, several table games such as Roulette, Blackjack and Poker and a casino floor that is open 24 hours a day and 7 days a week – all year round.
In the meantime, the Tax and Duties Ministry, which formulated the new draft decree is awaiting the Parliament’s final approval of the law that will change online and well as offline gambling.
For example, the draft document provides an increase in the age limits for visiting a gambling establishment (from 18 to 21).
Online bookies will be given a transitional period of two years to apply for a license and meet strict new criteria listed in the draft document.
