These restrictions include a suspension of gambling advertising and tighter control of the online gambling industry. According to Gharibashvili, unchecked online gaming operations are losing the country taxes while also putting people at risk of gambling harms due to a lack of regulation.
In response to Gharibashvili’s comments on the loss of taxes, the minister of finance, Lasha Khutsishvili has drafted a new bill that will modify taxes with all gross gaming revenue taxed at a rate of 10%. The bill also includes a rate of 2% on all winnings and that they be included as part of a person’s income.
The drafted bill states that operators may see an increase of somewhere in the region of 65% and 70% on their taxes. However, no further details have been released on this particular aspect of the legislation.
The legislation will also place a complete ban on all forms of gambling advertising. However this will not include sponsorship deals with companies and sporting organizations.
Georgia Proposes Ban on All Forms of Gambling Advertising in New Legislation Georgia Proposes Ban on All Forms of Gambling Advertising in New Legislation