Discussions on gambling taxes continued for six months with Gettmantsev.
Revised Article:
Let's dive into some hot news from the Telegram channel, where Daniil Getmanets, the Financial Committee's chief, dropped a bombshell.
He spilled the beans about an eyebrow-raising surge in profits and taxes in the Russian gambling sector. Here's the lowdown:
The profit tax in this industry skyrocketed a staggering 7.3 times more than the previous year, and the Personal Income Tax (PIT) followed suit, surging by a significant 26.1%. Now, that's what I call a roll of the dice!
Getmanets didn't hold back when he stated, "This divergence means it's high time we fine-tune the tax on winnings."
Interestingly, the industry coughed up 1.9 times more in taxes compared to June of the previous year. Talk about raking in the dough!
Now, shifting gears a bit, Getmanets has been vocal about easing advertising and sponsorship restrictions in the contentious gambling bill. For more on that, be sure to check out sporting.net.
The Office of the Prosecutor General has also been beefing up its fight against illegal gambling. But that's another story for another day.
As for the gambling market, an expert's report revealed that the share of "white" market (legitimate gambling activities) has gone up from a mere 5% to a robust 40-50%. Now, that's some serious growth!
On a side note, in Russia, gambling winnings currently fall under a hefty 35% tax, though foreign tax relief is available for taxes paid on foreign-sourced profits, up to the amount of Russian tax due on the same income. Standard personal income tax rate for residents is 13%, but gambling winnings are taxed at a higher rate.
However, it's unclear whether Getmanets is cooking up any new plans for the gambling industry's taxation as no specific proposals have surfaced yet in the available search results. For a comprehensive understanding of any recent updates, it's wise to consult recent legislative changes or statements from relevant authorities.
- The financial committee's chief, Daniil Getmanets, suggested that it's time to adjust the tax on winnings in the Russian gambling sector due to a significant discrepancy in profit and Personal Income Tax (PIT) between this year and the previous one.
- According to Getmanets, the industry paid 1.9 times more in taxes compared to June of the previous year, highlighting a remarkable increase in revenue.
- Amidst the focus on taxation, Getmanets has also been advocating for easing advertising and sponsorship restrictions in the controversial gambling bill, currently a topic of discussion on sporting.net.
- Despite the increase in taxes, it remains unclear whether Getmanets plans to implement new taxation strategies for the gambling industry, as no specific proposals have been announced yet.
