Reports SLOVAKIA
was completed in two weeks and therefore all machines had to undergo an immediate transition and now operate with a 10c stake (or up to €4.90 via the bank) and €15 prize for AWPs and €10 maximum stake and unlimited prize for the VLTs.
In addition the new 478/2009 amendment includes a new specification of regulation technical parameters and the authentication of a system parameter in the form of a security project or security audit. The amendment means the video games (VLTs) must be connected to a central monitoring system to record all data.
The tax change in particular is expected to hit the industry hard and is likely to see the number of operating companies dwindle as only those who can afford the fees will remain.
Comax’s Martin Zych said: “After Slovakia took on the Euro in January 2009 the market has been going through a period of stagnation. Operators had to spend a lot of money at the end of 2009 for the changeover and they have still not recovered from this burden.
“The world recession has hit Slovakia like other European countries so people are playing the machines less than before plus they are more cautious about spending Euro notes. It is thought machine revenues have dropped by a third against 2008.
“It is expected that the number of machines will drop by another 10 per cent from January this year and the least profitable sites are being closed. The latest news that the same licence fee on AWPs will be applicable to VLTs is expected to see the number of VLTs drop by 20-25 per cent because of this new taxation.”
Slovak cabinet. The law states that these games can be operated in casinos only on the basis of an individual licence. Outside formal casino provision of the poker games is to be conditioned on a general licence.
Poker operators will now pay monthly taxes of €200 per table of €1,500 annually. The amendment is expected to bring in an extra €7.5m in taxes to the state budget each year whilst increasing municipality revenues by around €3m.
Meanwhile VLTs have also seen a tax increase from a percentage rate of 29 per cent on gaming revenue to a standard €4,000 fee per calendar year, irrespective
of how many days the machine is in operation. Prior to the amendment VLT gaming machines were paying 29 per cent of their revenues (25% to the state and 4% to the municipality) which has now changed to a €4,000 standard fee (€3,200 to state plus €800 to municipality) which is payable in three instalments throughout the year.
The country is already reeling from its changeover in January last year after the introduction of the Euro currency which replaced the Slovak koruna at a fixed rate of €1 for SKK30.1260.
Previously AWPs operated with a SKK2 stake and SKK300 prize. The changeover
At themoment the tax period in
Slovakia runs per
calendar year and is based on a flat rate of 19 per centwith some exceptions.
Meanwhile the country also faces parliamentary elections in June this year. The opposition is calling for tax cuts to stimulate the economy however the finance minister argues that the burden of taxes and social security contributions in Slovakia is the lowest in the EU.
At the moment the tax period in Slovakia runs per calendar year and is based on a flat rate of 19 per cent with some exceptions.
Income tax is based on 19 per cent as is VAT. Reduced rate VAT is set at 10 per cent whilst local taxes are set by the municipalities and paid directly to these local authorities and can be set on such things like real estate tax, parking taxes,
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