The government of Albania has arranged the move of casinos and sports betting shops from residential areas and also to city outskirts in a bid to stop the proliferation of gambling in among Europe’s poorest countries, the Associated Press reports.
Albanian Prime Minister Edi Rama said today that casinos and gaming stores taking wagers on unique sports and monster races might have to be shuttered and moved to city outskirts by the close of the year. Those failing to comply with the order will be punished, it also became apparent.
The top official further pointed out earlier today that while the amount of casinos has dropped to 20 from 2018 from 40 in 2013, taxation revenue has increased to approximately €47 million in €32 million five years back, indicating a booming gambling market.
The brand new set of principles regarding the manner gambling services are supplied in the country also contain limitations on advertising. Advertising activities that are breaching law will probably be “shut by force”, Prime Minister Rama stated today.
As stated previously, Albania is among the poorest countries on the continent. But, its gambling industry has appreciated quite some growth within the previous several years. Albanian gamblers can bet money on different kinds of activities, including online casino games and sports betting betting and services provided at land-based properties.
According to information in local media outlets, the record amount of around €132 million was wagered by Albanian gambling customers over the last year, up 10% year-on-year.
President Vetoes Proposed Tax Cuts
Albanian President Ilir Meta vetoed earlier this year a bill that aimed to implement significantly lower taxes on the provision of gambling services in the country. The piece had previously been given the nod by the ruling Socialist Party, but didn’t gain support in the President.
Under the country’s present tax regime, employers licensed to operate in Albania are required to pay 15% in their yearly turnover. The vetoed bill called for operators to be asked to annually contribute 15% on their gross profits , that is the sum remaining after the payout of winnings to gamblers. The usage of gross earnings as a tax basis provides for a significant reduction in the taxes paid by companies.
Regardless of the President’s veto, the proposed changes in the country’s gambling tax regime had been eventually passed by the Albanian Council of Ministers. The new rate will take effect from January 1, 2019 and will apply to all categories of gambling. The new gambling tax came as part of a larger tax reform introduced by Albanian lawmakers this year.
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