Bulgarian MPs Postpone Vote on Gambling Tax Cuts

Business | November 28, 2013, Thursday // 14:19
Bulgarian MPs Postpone Vote on Gambling Tax Cuts: Bulgarian MPs Postpone Vote on Gambling Tax Cuts Yordan Tsonev, DPS MP and chair of the parliamentary budget committee, photo by BGNES

The Bulgarian lawmakers postponed Thursday the vote on a three times cut of gambling taxes and approving amendments to the act with the same name.

The postponement decided on after 91 MPs voted in favor of it; 85 against, and 5 abstained.

The proposal was motioned by the Member of the Parliament from the liberal, predominantly ethnic Turkish party Movement for Rights and Freedoms, DPS, Yordan Tsonev.

DPS is the main partner of the left-wing Bulgarian Socialist Party, BSP, in the current government.

One of the grounds for the serious tax break was that the current 15% fee is too high and was encouraging illegal gambling, without a license, particularly online. According to Tsonev, over 40 internet operators have declared they were ready to register in Bulgaria and to have their operations controlled under the new conditions.

The opposition, represented by the formerly-ruling centrist Citizens for European Development of Bulgaria party, GERB, countered that the new texts will reduce control, will boost gambling advertisements, placing Bulgarian youth in danger of addictions, without bringing much funds to the Treasury.

GERB further voiced suspicions of lobbyism as there is currently only one licensed gambling operator in the country.

We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!

Business » Be a reporter: Write and send your article
Tags: BSP, DPS, taxes, taxation, parliamentary budget committee, Yordan Tsonev, online, gambling, Bulgaria, GERB
Expats.bg All Are Welcome! Join Now!
Bulgaria news Novinite.com (Sofia News Agency - www.sofianewsagency.com) is unique with being a real time news provider in English that informs its readers about the latest Bulgarian news. The editorial staff also publishes a daily online newspaper "Sofia Morning News." Novinite.com (Sofia News Agency - www.sofianewsagency.com) and Sofia Morning News publish the latest economic, political and cultural news that take place in Bulgaria. Foreign media analysis on Bulgaria and World News in Brief are also part of the web site and the online newspaper. News Bulgaria