Georgia confirms gambling tax hike for next year
Prime minister Irakli Gharibashvili has signed an executive order including new gambling laws.
Georgia.- Prime minister Irakli Gharibashvili of Georgia has signed off on an executive order imposing new measures for the gambling sector. They include a hike in taxes on gambling and new compliance measures for Georgia’s ban on under 25s gambling.
The tax rate on gambling profits will rise from 10 to 15 per cent. Meanwhile, a tax on player withdrawals will be raised from 2 to 5 per cent. The hikes are expected to generate an additional GEL 400m (€137m) per year for the state.
Meanwhile, from July 1, 2024, the Code of Administrative Offences will impose a series of penalties for breaches of Georgia’s minimum age limit for gambling, which has been reduced to 25. Operators could be fined GEL 10,000 (€3,500) for a first-time offence and GEL 20,000 (€7,000) for further breaches. Venues such as internet cafes, bars and shops could be fined up to GEL 30,000 (€10,000) if they allow underage gambling.
Meanwhile, gambling operators will have to provide government agencies with access to individual customer databases for them to be able to see which citizens have gambled.
Gharibashvili has previously expressed surprise and disappointment at the number of people who gamble in Georgia despite previous measures, which have included a ban on gambling advertising. Georgia has also limited the operation of online gambling to companies that run land-based gambling.
