Romania Gambling Taxes to Fund Movies
Posted: April 27, 2016
Updated: April 27, 2016
The Chamber of Deputies approved a bill to use five percent of Romania’s gambling taxes for the renovation of historical buildings and to fund new movies projects.
According to Romanian gambling news, the Chamber of Deputies has voted in favor of a bill that allows for the transfer of 2 percent of the country’s gambling taxes to the Cinema Fund. Furthermore, 3 percent of Romania’s gambling taxes will be used for the renovation of historical monuments. Romania-Insider reports that between 2005 and 2009 the Cinema Fund was receiving money from the taxes paid by gambling companies and casinos in Romania. However, the support was terminated in 2009.
Romania has adopted new gambling legislation in February, 2016. The new rules prescribe the required technical conditions of licensees and gambling related service providers. In 2015, gambling operators paid a total of EUR 269 million in taxes to the Romanian government, on top of the EUR 70 million that was paid in license fees.