Main " Gambling News " Tax deductions in the Russian Federation from gambling business are growing like on yeast

Tax deductions in the Russian Federation from gambling business are growing like on yeast

Recently, the public interested in the Russian gambling industry was informed about the record tax deductions made by entrepreneurs in the first half of 2023. The amount transferred to the budget amounted to more than 1.25 billion rubles. Recall that today the industry can develop only in special designated zones. Below are the amounts of taxes paid by each of them:

• "Krasnaya Polyana" (807.9 million rubles);
• "Sibirskaya Moneta" (34.8 million rubles);
• "Yantarnaya" (112.5 million rubles);
• "Primorye" (RUR 295.5 mln).

It makes sense to compare the performance of any industry, including the gambling industry, with previous periods. Revenues of all gambling zones have grown within 10%-40% for the last two years. The maximum growth occurred in the gambling zone located in Sochi ("Krasnaya Polyana"). If we take the total figure, the growth of payments to the country's budget for two years increased by 18%.

According to the executive director of AIRIS (association of gambling business representatives) the growth of tax payments to the budget is natural, because all Russian operators developing the gambling industry in the country, constantly carry out serious work to create a positive image of gambling establishments. The result of such work is a higher attendance of casinos and, as a consequence, the growth of tax payments to the budget. The main drivers for the growth of attendance of gambling establishments were:

• entertainment events for casino guests with the participation of "stars";
• various sporting events;
• development of the restaurant business operating in gambling zones;
• other activities and actions of operators aimed at creating a positive image.

Also, the head of AIRIS noted that during key dates (New Year, May and other holidays) the growth of attendance of gambling establishments is especially noticeable. At the same time, not only casino revenues grow significantly, but also other segments located in gambling zones. Basically, we are talking about the tourist cluster (hotels, cafes, restaurants, concert halls, etc.). As a result, the Russian budget receives additional revenues in the form of tax deductions.