April 19, 2016

Czech government nears proper online gambling laws

The Czech government is slowing moving towards legalising online gambling in the country and at the same time preparing to hunt down and close any illegal offshore online gambling firms.

With the new tax on slot machines coming into effect shortly at 28% to 35% and sports betting and lotteries paying 23%, these taxes separate from corporation tax which is 19% expected to go through parliament and be signed by the Czech President.

With the current online laws inadequate for purpose these laws need to be updated and regulated before a proper framework for allowing operators to be correctly licensed by the State Supervision of Gambling and Lotteries Department of the Ministry of Finance, of which there are five licensees currently in operation Sazka, Synot Tip, Chance, Fortuna and Tipsport. However these operators have been highly critical of the current tax laws which have restricted their growth.

It is expected that new online gambling laws and a framework for regulators to work with will be present in early 2017.

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