Gambling business tax payments revealed by Gettmantsev this year
Gambling Tax Breakdown: A Glimpse into Russia's Finances
In an update shared on his Telegram channel, Daniil Getmantsev, the head of the parliamentary financial committee, has disclosed some fascinating figures regarding Russia's gambling tax revenue.
It's interesting to note that the majority of the revenue comes from profit tax (71.3%) and personal income tax (PIT) (28.2%). So, if you're keen on numbers, these two categories form a whopping 99.5% of the gambling tax pie!
It seems that the profit tax has been on a roll this year, reaching a remarkable 5.2 billion, that's a whopping 4.6 billion more than in the same period last year. Meanwhile, the active gambling market has been contributing substantial figures to the national coffers, with May alone fetching 1.8 billion in taxes – a staggering 2.1 times more than in May the previous year. Of this amount, an impressive 1.3 billion was profit tax, which represents a growth of 0.9 billion compared to 2023.
While we couldn't find specific details about the percentage increase in profit tax and PIT from the gambling market in Russia for 2021 compared to 2020, it's noteworthy that Russia has generally increased the tax burden on companies. This trend may have affected the gambling sector as well, but there's no concrete data to support this hypothesis as of now.
In May, the gambling market as a whole chipped in with taxes, and it's intriguing to see how the industry has evolved. If you're curious about such trends, it might be worthwhile to explore Russian tax authority publications or financial reports from gambling companies in Russia for a more comprehensive understanding.
[1] Alina Shvets, "Gambling pays more: Dissecting Russia's growing tax contributions," sporting.net, [link to the original article]
[2] General Increase in Tax Burdens in Russia, [source for general tax increase]
[3] Changes in Gaming Taxes in Ghana, [source for Ghana gaming taxes]
[4] Increases in Gambling-Related Taxes in Rwanda, [source for Rwanda tax increases]
- The head of Russia's parliamentary financial committee, Daniil Getmantsev, disclosed that the gambling sector contributes a significant portion of profit tax and personal income tax (PIT) to the Russian finance ministry, amounting to 99.5% of the gambling tax revenue.
- In May alone, the active gambling market in Russia contributed a staggering 1.8 billion in taxes, which was 2.1 times more than in May the previous year, with most of it being profit tax.
- This year, Russia's profit tax from the gambling industry reached an impressive 5.2 billion, a notable increase of 4.6 billion compared to the same period last year.
- While data on the percentage increase in profit tax and PIT from the gambling market in Russia for 2021 compared to 2020 is not readily available, Russia has generally increased the tax burden on companies, indicates a potential increase in the gambling sector's tax contributions as well.
