author_orbitax
Orbitax

Share This Article

Georgia Increases Taxation of Income from Games of Chance

17 January 2024

|

Approved Changes

|

Georgia

Georgia has reportedly introduced changes regarding the taxation of income from games of chance with effect from 1 January 2024. This includes an increase in the tax rate on income from the organization of electronic (online) gambling from 10% to 15%. Further, the exemption for income received from slot machines is repealed, with such income subject to tax at the rate of 15% on the difference between total bets received and gains (winnings) paid out, with declarations and payments required on a monthly reporting period. Lastly, withholding requirements apply, with slot machine winnings subject to a 5% withholding tax and...