Profit tax for gambling businesses to increase from January 1 Gambling games online casino
Posted: Mon Jan 06, 2025 3:54 am
Starting in 2025, the level of taxes for online gambling companies will increase - this is provided for by the law adopted by Georgian Dream deputies in an expedited manner in December 2024.
According to the amendment, the profit tax for companies that hold a license to operate online gambling will increase from the current 15% to 20%. According to the explanatory note to the initiative, this amendment will result in an additional 115 million GEL in the budget.
Gambling companies, and in particular those firms that provide Australia business fax list gambling services to customers electronically, are taxed under a different profit tax regime than other sectors. Starting in 2022, they will be taxed not on distributed profits, but on 15% of their net gambling revenue (GGR), which is 15% of the difference between bets received and winnings paid out.
The online casino sector will be taxed on this principle starting in 2022. Initially, this rate was 10%, increasing to 15% from 2024, and starting in 2025, their profit tax will be 20% of GGR.
Gambling
According to the amendment, the profit tax for companies that hold a license to operate online gambling will increase from the current 15% to 20%. According to the explanatory note to the initiative, this amendment will result in an additional 115 million GEL in the budget.
Gambling companies, and in particular those firms that provide Australia business fax list gambling services to customers electronically, are taxed under a different profit tax regime than other sectors. Starting in 2022, they will be taxed not on distributed profits, but on 15% of their net gambling revenue (GGR), which is 15% of the difference between bets received and winnings paid out.
The online casino sector will be taxed on this principle starting in 2022. Initially, this rate was 10%, increasing to 15% from 2024, and starting in 2025, their profit tax will be 20% of GGR.
Gambling