{"id":6622,"date":"2024-08-23T10:28:00","date_gmt":"2024-08-23T09:28:00","guid":{"rendered":"https:\/\/sbceurasia.com\/en\/?p=6622"},"modified":"2024-08-23T10:28:07","modified_gmt":"2024-08-23T09:28:07","slug":"montenegro-plans-to-raise-tax-on-players-winnings","status":"publish","type":"post","link":"https:\/\/sbceurasia.com\/en\/2024\/08\/23\/montenegro-plans-to-raise-tax-on-players-winnings\/","title":{"rendered":"Montenegro Plans to Raise Tax on Players’ Winnings"},"content":{"rendered":"\n

Montenegro\u2019s<\/strong> gambling sector faces likely fiscal changes as the Ministry of Finance <\/strong>endorses a 15% tax charged on customer winnings.<\/p>\n\n\n\n

The government of<\/strong> Montenegro<\/strong> has received proposals to amend articles of the Personal Income Tax  and the Law on Games of Chance<\/strong> to apply the tax charge sought by the Ministry of Finance.<\/p>\n\n\n\n

The proposal carries the \u201cdual goals of increasing budget revenues and addressing the growing issue of gambling addiction, particularly among young people.\u201d<\/p>\n\n\n\n

Submitting its amendments, the Ministry emphasised that tax charges on gambling income had been \u201cunjustifiably excluded from the tax system in the previous period.\u201d<\/p>\n\n\n\n

The Ministry endorsed a 15% tax charge<\/strong> on customer winnings as part of the Montenegrin government\u2019s \u2018Work Programme for 2024<\/strong>,\u2019 which carries the wider mandate to adopt a new Law on Games of Chance.<\/p>\n\n\n\n

Taking office in October 2023, Prime Minister Milojko Spaji\u0107<\/strong> ordered ministers and departments to submit proposals on gambling protections, focusing on protecting minors, improving oversight and central controls, preventing money laundering, and ensuring responsible gaming.<\/p>\n\n\n\n

The proposal aims to raise a further \u20ac5 million<\/strong> from gambling winnings, which will be reserved by the Ministry for initiatives related to combating gambling addiction.<\/p>\n\n\n\n

The Gambling Operators\u2019 Association<\/strong>, affiliated with the Montenegrin Chamber of Commerce<\/strong>, has voiced strong opposition to the proposed tax. They argue that similar tax measures in other countries have led to a decrease in payments from licensed operators, which could negatively impact the state\u2019s revenue.<\/p>\n\n\n\n

The association has warned that the proposed 15% tax<\/strong> could result in a 30% decline<\/strong> in payments from these operators, a reduction that would outweigh the potential benefits of the new tax charge.<\/p>\n\n\n\n

In response to these concerns, the Ministry of Finance acknowledged potential challenges but remains firm on the need for the tax to address the rising issue of gambling addiction, particularly among the youth.<\/p>\n\n\n\n

According to Latest Casino Bonuses, the trade organisation Montenegro Bet<\/strong> has initiated a public petition aiming to gather 6,000 signatures <\/strong>to oppose the Ministry\u2019s plan, accusing them of attempting to \u201cenforce a \u2018tax-on-tax\u2019 that could devastate the legal gambling sector.\u201d<\/p>\n\n\n\n

The tax proposal is set to be debated in the Montenegrin Parliament, where it is expected to face significant scrutiny as ministers will need to balance the need for increased revenue and social responsibility with the potential economic impact on the gambling industry.<\/p>\n\n\n\n

2024 has seen Montenegro\u2019s gambling sector ruptured by the government\u2019s recent authorisation of a ban on electronic payments for gambling transactions, leading to significant controversy.<\/p>\n\n\n\n

Authorised as an amendment to the Law on Games of Chance, Montenegro will prohibit the use of e-banking, IPS, and mobile payment services such as PayPal and Apple Pay <\/strong>– a move that has sparked backlash from both the gambling industry and the public.<\/p>\n\n\n\n

Yet to be implemented, Montenegro Bet has demanded that the government explain why it has endorsed amendments that hinder Montenegro\u2019s efforts to align with EU<\/strong> standards on AML<\/strong> while complicating its ongoing negotiations to join the EU.<\/p>\n\n\n\n

Opposition argues that this ban will not only disrupt operations but also increase reliance on cash transactions, which are typically more vulnerable to money laundering – a concern that contradicts the EU\u2019s AML directives.<\/p>\n\n\n\n

Don’t forget to subscribe to our Telegram channel<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"

Montenegro\u2019s gambling sector faces likely fiscal changes as the Ministry of Finance endorses a 15% tax charged on customer winnings. The government of Montenegro has received proposals to amend articles of the Personal Income Tax  and the Law on Games of Chance to apply the tax charge sought by the Ministry of Finance. The proposal […]<\/p>\n","protected":false},"author":7,"featured_media":6623,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[1,24,564],"tags":[604,9499,9500,2937,9501,642,7617,4913],"class_list":["post-6622","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-regulations","category-slider","tag-apple-pay","tag-gambling-operators-association","tag-milojko-spajic","tag-ministry-of-finance","tag-montenegrin-chamber-of-commerce","tag-montenegro","tag-montenegro-bet","tag-paypal"],"yoast_head":"\nMontenegro Plans to Raise Tax on Players' Winnings - SBC EURASIA EN<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/sbceurasia.com\/en\/2024\/08\/23\/montenegro-plans-to-raise-tax-on-players-winnings\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Montenegro Plans to Raise Tax on Players' Winnings - SBC EURASIA EN\" \/>\n<meta property=\"og:description\" content=\"Montenegro\u2019s gambling sector faces likely fiscal changes as the Ministry of Finance endorses a 15% tax charged on customer winnings. 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