Russia will increase gaming taxes

Russia announced an increment on betting shop and slot machines taxes.

Taxes for gaming operators could double the current amount.

Russia.- Deputy Finance Minister of the Russian Federation Alexei V. Moiseev revealed that the National Ministry will introduce a legislation to double the current amount of gaming taxes. The bill will increment the taxed paid by betting shops and slot machines operators.

“We believe that the taxes should be adjusted, we are planning to increase them twofold. But our plan is to keep increasing them further, depending the tax collection and the reaction of the business,” Moiseev expressed.

Betting shops and slot machines taxes have not been updated for the past 10 years. Currently, slot machines’ minimum rate is RUB 1,500 (US$23.50) and maximum rate is RUB 7,500 (US$117) per month. As to betting shops, the minimum rate is RUB 5,000 (US$78) and maximum rate is RUB 7,000 (US$109.50).

The tax rates on gambling are determined by the Russian Federation constituent entities within the limits approved at the federal level.