gambling

Czech Republic to Raise Gambling Taxes

Czech Gambling Taxes

The lower house of the Czech Parliament approved the bill that would considerably raise Czech gambling taxes.

Taxation of gambling and winnings is set to increase in the Czech Republic. In the upcoming year, the rates might raise from 20% to 23 and 28%, depending on game-type. The daily fee for gambling machines will also raise, from CZK 55 (€2) to CZK 80 (€3). The lower house was in favor of the new bill, excepting a CZK 2 billion boost in tax revenues.

The gambling taxes (zdanění hazardu) will be different for sports betting and slots

The bill still needs the approval of the upper chamber and the president. However, seeing the overwhelming support from the lower house, it will most probably pass. In 2014, Czech residents spent CZK 138 billion on various forms gambling.

According to Czech gambling news, slot machines are the most popular, bringing more than 50 percent of revenues. The first plans by the Ministry of Finance suggested a 5 percent increase in taxes for sports betting in the Czech Republic but it was lowered to 3 percent. Since slot machines are considered a ‘hard-form of gambling’, their taxation will increase with 8 percent.

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