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Czech govt agrees on tax changes for betting firms
September 1, 2015 / 8:32 AM / 2 years ago

Czech govt agrees on tax changes for betting firms

PRAGUE, Sept 1 (Reuters) - The Czech ruling coalition has agreed to change planned tax increases for the betting industry in 2016 in a move that could save tens of millions of crowns for firms such as Fortuna Entertainment Group.

Leaders of the Social Democrats, ANO movement and Christian Democrats agreed late on Monday that the tax for betting companies would rise to 23 percent from the current 20 percent, Social Democrats caucus chief Roman Sklenak told Reuters on Tuesday.

That is lower than the 25 percent originally targeted by the Finance Ministry.

“We agreed in the coalition council that this amendment should be filed,” Sklenak said.

Fortuna Entertainment could save around 30 million Czech crowns ($1.26 million) in 2016 thanks to the lower-than-planned taxation, according to a report in the Hospodarske Noviny business paper.

At the same time, a planned increase to 25 percent has been raised to 28 percent for slot machine operators who will also pay a fee of 110 crowns a day for each machine, Sklenak said.

$1 = 23.8950 Czech crowns Reporting by Robert Muller; editing by Jason Neely

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