Georgia raises taxes on gambling businesses to 15%

Updated:2024-03-31 08:52    Views:140

In a recent government meeting, Prime Minister Irakli Garibashvili of Georgia announced a change in the country's taxation policy for the gambling industry.

This tax revision aims to address concerns about the rapid expansion of the gambling sector within Georgia. Additionally, it represents part of a broader government strategy to mitigate the social impact associated with gambling and to increase state revenues.

These developments have implications for both local and international gambling operators within the Georgian market. These changes could potentially affect their profitability and require adjustments to their business strategies.

The government's response to this situation is not new. Last year, it implemented several measures to counteract the surge, including a ban on gambling advertising and restrictions on citizens under 25 years of age.

The changes in taxation are projected to result in an additional 400m GEL ($147m) being added to the national budget. The funds generated will contribute to the financing of government initiatives.

As a backdrop to these changes, the Georgian market has increasingly become a destination for online gaming companies. Notably, Aviatrix has recently obtained certification to offer its crash game within Georgia,Online Casino Games aligning with the company's goal of entering regulated markets worldwide.

Global casino content provider CT Interactive certified more than 190 games for the Georgian market, offering local operators access to its exclusive portfolio.

In a separate endeavour, Bragg Gaming, through its deal with Adjarabet, has taken steps to offer its proprietary and third-party content to players in Georgia.



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