Tax rates on betting and games of chance halved
Taxes on mutual betting based on sports competitions, horse racing, and other games of chance have been reduced by 50 percent. Accordingly, the 20 percent tax rate on games of chance has been lowered to 10 percent.
According to the Presidential decree on the matter published in the Official Gazette, the tax rates in question have been reduced as follows: from 10 percent to 5 percent for mutual betting based on sports competitions, from 14 percent to 7 percent for horse racing, and from 20 percent to 10 percent for other games of chance.
The decision will be effective as of January 1, 2024.
News Source: 12punto
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