The end of 2014 was an extremely important in the gambling industry for gambling legislation. Many European countries which included the likes of Spain, Ireland, Andorra and Romania planned to make imminent changes.
December 2014 played an important role in these changes as the Romanian government approved an ordinance which was set to replace the 2010 legislation which previously governed the nations gambling industry. This is to going to be a great asset to the residents of Romania who enjoy gambling online. As a result of the government approving the ordinance is means that online gambling taxes will now be lowered in Romania. The new ordinance also means that foreign operators will not be permitted to apply for licenses.
The even better news is that Romanian residents will not have to wait long for these changes to take place. The new ordinance was signed by the Romanian government towards the tail end of 2014 on 30th December. That means the government will have 45 days from the 30th December 2014 in which to implement the changes. As a result of this Romania hopes to generate greater revenue with its new reforms.
Some big changes set to take place
At the moment gambling taxes are set quite high and there is a single 25% tax on all gambling winnings. The new system that will be implemented within those 45 days is one that will feature three different tiers of taxation. First things first, gambling winnings that are worth in the region of €133 to €15,000 will become subject to a 1% tax. Higher winnings that are in the region of €15,001 to €100,000 will be subject to a higher tax rate of 16%. This further increases to the third tier of the taxation for winnings that are €100,001 or greater. These winnings will be taxed at the current rate of 25%.
There are more major changes that are also set to take place. There has been immense pressure from the European Commission about opening up the industry in line with the European Union's freedom laws. Back a few years ago in 2010, the ordinance had only been applicable to Romanian operators. However, the new ordinance of 2014 will mean the entire market will become regulated.
Odette Nestor, president of the country’s National Office for Gambling, provided the following confirmation: “We now have a legal framework that allows gambling operators to get licensed in Romania.”
The Romanian market has lacked a regulator body such as the new National Office for Gambling for a few years now and this has been a big problem. But with this great news of a new ordinance foreign operators have a body that they can apply directly to acquire licenses.
Changes are set to be implemented soon and will definitely be a great milestone in the history of online gambling.