{"id":7828,"date":"2024-12-12T11:24:53","date_gmt":"2024-12-12T11:24:53","guid":{"rendered":"https:\/\/sbceurasia.com\/en\/?p=7828"},"modified":"2024-12-17T08:59:45","modified_gmt":"2024-12-17T08:59:45","slug":"georgia-increases-profit-tax-for-gambling-business","status":"publish","type":"post","link":"https:\/\/sbceurasia.com\/en\/2024\/12\/12\/georgia-increases-profit-tax-for-gambling-business\/","title":{"rendered":"Georgia Increases Profit Tax for Gambling Business"},"content":{"rendered":"\n

According to the ruling Georgian Dream party<\/strong>, gambling organizers will now face a 5% increase in profit tax<\/strong>. Mamuka Mdinaradze, the party’s executive secretary, stated that the changes to the tax code aim to bolster budget revenues.<\/p>\n\n\n\n

\u201cGame organizers’ profits will be taxed by an additional 5%. Similar to banks, the online casino industry and the gambling business will also be subject to this increased profit tax,\u201d Mdinaradze explained.<\/p>\n\n\n\n

Additionally, from December 2024, foreign citizens are not required to pay the 5% income tax on gambling winnings under a law passed earlier in June. Additionally, foreigners and Georgian citizens have to be registered on different domains in the gambling business. There is a reduction in GGR tax to 5% for foreign players only, and bets can also be placed in EUR and USD.<\/p>\n\n\n\n

Georgia adopted <\/a>new regulations for the gambling industry in 2022. In 2023, the government decided to increase the tax rate on the sector.<\/p>\n\n\n\n

Read more<\/a> about the regulatory tightening during this period in an interview with George Mamulaishvili<\/strong>, the head of the Georgian Gambling Association (GGA).<\/strong><\/p>\n\n\n\n

Don\u2019t forget to subscribe to our Telegram channel<\/a>! <\/p>\n","protected":false},"excerpt":{"rendered":"

According to the ruling Georgian Dream party, gambling organizers will now face a 5% increase in profit tax. Mamuka Mdinaradze, the party’s executive secretary, stated that the changes to the tax code aim to bolster budget revenues. \u201cGame organizers’ profits will be taxed by an additional 5%. Similar to banks, the online casino industry and […]<\/p>\n","protected":false},"author":10,"featured_media":759,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[1,24,564],"tags":[239,401,10793,4603],"class_list":["post-7828","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-regulations","category-slider","tag-georgia","tag-law","tag-mamuka-mdinaradze","tag-taxation"],"yoast_head":"\nGeorgia Increases Profit Tax for Gambling Business - 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\/12\/12\/georgia-increases-profit-tax-for-gambling-business\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Georgia Increases Profit Tax for Gambling Business - SBC EURASIA EN\" \/>\n<meta property=\"og:description\" content=\"According to the ruling Georgian Dream party, gambling organizers will now face a 5% increase in profit tax. Mamuka Mdinaradze, the party’s executive secretary, stated that the changes to the tax code aim to bolster budget revenues. \u201cGame organizers’ profits will be taxed by an additional 5%. 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