Czech Republic is on the verge to authorize the license to international lottery operators after a new legislation passed.
There were ‘42’ votes in the favor of new bill and had ‘0’ votes against it. President Miloš Zeman now has time of 30 days to affix his signature and bill could be effective by January 1, 2017.
Operators based in the European Union and European Economic Area will have the opportunity to apply for local licenses. Operators will find hard time to digest the bill’s tax plan.
Under the new bill, 23% of tax will be implied on sports betting and lotteries of gross revenue, meanwhile casino games will face 35% of tax rate. These taxes are effective on top of the standard 19% corporate tax rate.
The new law will also allow Ministry of Finance to block the unauthorized gambling domains, also ban on payment transactions from unauthorized operators. Law will also have a new set of rules against unlawful marketing, in order to protect its new licensees from unwanted competition.
The law also includes measures to minimize potential social harms, including the adoption of a national exclusion database that will allow individual gamblers to block themselves from accessing the unauthorized sites, while also preventing access by bankrupt individuals or those receiving financial assistance from the state.
We believe, acceptance of this new law will bring in lot of opportunities for the lotteries and the players.
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