In a recent government meeting, Georgia’s Prime Minister Irakli Garibashvili announced a revision in the country’s taxation policy for the gambling industry. The adjustment involves an increase in profit tax rates for gambling businesses, raising them from the existing 10% to a higher rate of 15%.
This move is a response to concerns about the rapid expansion of the gambling sector in Georgia and is part of a broader government strategy to address the social impact associated with gambling while increasing state revenues. These changes have implications for both local and international gambling operators in the Georgian market, potentially impacting their profitability and necessitating adjustments to their business strategies.
The government’s measures aim to counteract the surge in gambling activities, following last year’s implementation of measures such as a ban on gambling advertising and restrictions on citizens under 25 years of age. The revised taxation is expected to contribute an additional 400 million GEL ($147 million) to the national budget, supporting the financing of government initiatives.
Against this backdrop, the Georgian market has seen increased interest from online gaming companies, with Aviatrix securing certification for its crash game, CT Interactive certifying over 190 games, and Bragg Gaming making moves to offer its content through a deal with Adjarabet in Georgia.
