Russia could increase tax

Tigre de Cristal casino is threatened by possibilities of higher taxes, as the government informed.

Russia.- The government of Russia is evaluating a potential increase of gaming taxes, directly affecting the operations of local casino, Tigre de Cristal. The information was released by Summit Ascent Holdings, the operator of Tigre De Cristal, to the gaming salon’s investors earlier this week, according to the local press.

The government plans to raise the maximum tax leviable per gaming table to “RUB250,000 from RUB125,000 and the maximum tax leviable on gaming machines to RUB15,000 from RUB7,500.” The draft bill has gone through the First Reading by the State Duma, with the Second Reading due to be held today.

The proposal has to pass through three readings in the State Duma and finally be approved and signed off by the President. “Therefore, it is too early for the board of directors of the Company to predict whether the above proposed changes will become legally enforceable,” stated representatives of Summit Ascent Holdings. “However, there is no guarantee that the Primorsky Krai Duma would necessarily approve such a proposal,” added the statement.

Konstantin Shestakov, head of tourism for Primorsky Krai in Russia said last month that the success of Tigre de Cristal, the first casino to open in the new gaming zone, is a good indicator for companies that are looking to invest in the territory. Largely thanks to the casino, the passenger number flown to Primorsky Territoy rose by 30 percent in 2016 and that’s also shown by the casino’s revenues, that were increased by foreign tourists by 95 percent.