As I found reading the Net Bet Blog, a Bulgarian newspaper, Trud, reports on some changes in the gambling regulatory framework, by allowing online gambling - but also significant difference in the tax regime : the suggested change made by the Ministry of Finance - changing the tax on 10% of the total revenue to 10% of the profit.
The current estimates say revenues from legal betting in Bulgaria is around 350 million euros and not too far from 300 million euros is gambled illeagaly.
But seeing this news and talking about Eastern Europe always makes me wonder if there isn’t something else behind the curtain. This is how I find that, according to some sources , behind the amendments, as worded in the proposal, would also cover two private firms, both owned by Bulgaria’s richest man, Vassil Bozhkov, namely lottery Eurochance and bookmakers Eurofootball.
And this is why the current president Georgi Parvanov will veto the law, if it passes tha Parliament procedure, considering it just to support private interests.
So - things are more complicated then it seems.
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