Bosnia and Herzegovina

EOGL Sarajevo Post-Event News: “Taxation in the European Gaming Industry”

Published

7 years ago

January 27, 2017

The International conference was held in Sarajevo “Taxation in the European Gaming Industry”

On January 25th 2017 European Organization for Gaming Law (EOGL) organized the International conference “Taxation in the European Gaming Industry“ in Sarajevo.

European and local experts in economics, finance, law and the activity of organizing games of chance talked about the models of taxation in the European Union and the Federation of Bosnia and Herzegovina, analyzing the current Law on Games of Chance in the Federation of Bosnia and Herzegovina,as well as the proposed amendments to the Law on Games of Chance, proposed by the Government of the Federation of Bosnia and Herzegovina.

The conclusion at the conference was that the taxation of all payments and winnings is contrary to the positive legal practices in the European Union and in other developed countries in the world. Also it was emphasized that the problem of increasing height of utility taxes and the existence of other para fiscal charges, make difficult or completely impossible for the organizers of games of chance to run a business, which questions the existence of this activity in the market.

Participants of this conference agreed that the model of taxation proposed by the Government of the Federation of Bosnia and Herzegovina is harmful to the economic environment, state budget, and therefore the citizens of the Federation of Bosnia and Herzegovina. Several steps were suggested to the Government of the Federation of Bosnia and Herzegovina that the Government should carry out if it wants to regulate the market and pass the regulations in accordance with the principles of the European Union and current trends in the world. Those steps are:

Carry out an economic analysis of the current situation on the market, as well as the application of certain tax regimes on the current situation of payments, payouts, operating costs etc;
Establish a special regulatory body within the Government of Federation of Bosnia and Herzegovina, which will carry out the licencing of all organizers of games of chance, whose role would be to provide more order on the market through control and monitoring of all the participants;
Join the taxation model which is compatible with the West European and which will take into consideration the received payments and payouts, as well as the operating costs of the organizer, making sure that the model of taxation does not disable the positive performance of local organizers;
Avoid tax system that burdens the organizers of games of chance more than they can pay and more than they are burdened in other West European countries which have a long tradition of taxation of games of chance and have a stable fiscal system;
Have identical tax on all kinds of games of chance without making a difference between the lottery and betting games, slot machines and casinos, as well as the equal conditions (regarding aprovals, distances from schools etc) for all the organizers, state- owned or private companies;
Enable organizers of games of chance which are via internet coming to the world market from the jurisdiction of Federation Bosnia and Herzegovina a competitive contest with others organizers from around the world;
Introduce sever penalties for the participants in the black market.

Bojić : “We do not approve the intention to destroy legal activity”
President of the Foreign Trade Chamber of Bosnia and Herzegovina, Bruno Bojic also addressed to those present at the conference, saying that the Foreign Trade Chamber of Bosnia and Herzegovina does not approve and does not support the intention to destroy a legal activity, like activity of organizing games of chance and emphasized that he will not allow “destabilization” of economic market in Bosnia and Herzegovina.

Zoltan "Hawkie" Tundik

With an experience of over 8 years in the online gambling industry, as an affiliate, later affiliate manager and consultant, I consider myself a veteran of the industry and can guarantee that you will be served with the most accurate information.

Click to comment

You must be logged in to post a comment Login

You must be logged in to post a comment.

Bosnia and Herzegovina

NSoft amongst seven fastest growing companies in Central Europe

Published

7 years ago

October 18, 2017

George Miller

NSoft claimed 7th place in Deloitte’s competition with its four years growth rate of 1990%.

Entering Deloitte’s top 10 companies is already an achievement but NSoft prides itself for remaining in top 10 for the second year in a row. With once again being the only company from Bosnia and Herzegovina to enter this competition, NSoft confirms that its impact spreads beyond local boundaries. NSoft claimed 7th place in Deloitte’s competition with its four years growth rate of 1990%. Entering Deloitte’s top 10 companies is already an achievement but NSoft prides itself for remaining in top 10 for the second year in a row. With once again being the only company from Bosnia and Herzegovina to enter this competition, NSoft confirms that its impact spreads beyond local boundaries.

The Technology Fast 50 award winners for 2017 are determined based on the revenue growth over four years (2013 to 2016).

Eligibility criteria for Fast 50 that NSoft had to meet:

1. Develops a technology related product or service that contributes to a significant portion of the company’s operating revenues.

2. Devote a significant portion of revenues to research and development of technology.

3. Operating revenues of at least €50,000 in each of the past 4 years. Exchange rates are based on annual average given by the central bank of the company’s respective national currency.

4. Be in business for a minimum of 4 years.

5. Ownership structure that excludes majority-owned subsidiaries of strategic entities.

6. Be headquartered within one of the following Central European countries: Albania, Bosnia-Herzegovina, Bulgaria, Croatia, Czech Republic, Estonia, Hungary, Kosovo, Latvia, Lithuania, Macedonia, Moldova, Montenegro, Poland, Romania, Serbia, Slovakia, or Slovenia.

“Being recognized as a Technology Fast 50 winner provides increased visibility, brand recognition, and growth opportunities to these fast growing companies,” said Alastair Teare, CEO Deloitte Central Europe.

Balkan's

NSOFT HAS PARTICIPATED AT TABLEAU REGIONAL CONFERENCE

Published

7 years ago

October 3, 2017

George Miller

NSoft has participated at Tableau Regional Conference in Zagreb, the event that gathered the most important companies from the region to present their use cases. As the only invitee from Bosnia and Herzegovina, NSoft demonstrated its analytical methods as well as data visualization.

The Tableau software is used by 90% of Fortune 500 companies and is a number one software in analytics and data visualization. NSoft Business Analytics team has created an interesting Viz in order to present the company’s main strengths, NSoft’s employees, customers and products. This amazing visualisation can be checked at the following link: https://public.tableau.com/profile/nsoft#!/vizhome/shared/QMHKSRGXQ.

Considering that NSoft offers turnkey solution for betting industry, the usage of advanced analytics is of outmost importance since it enables the continuous growth together with customers.

Apart from offering excellent products NSoft provides its customers with constant support through the business intelligence enabling up to date analytics and product supervision leading them through the process of data interpretation.

Bosnia and Herzegovina

NSoft – No1 revenue generator in IT sector in Bosnia and Herzegovina

Published

7 years ago

September 25, 2017

George Miller

NSoft has been awarded the most successful company in IT sector according to the results of business activities in 2016.

On September 20, 2017 gala dinner was held in Sarajevo to celebrate the 30th anniversary of “100 biggest companies in BiH” awards and in order to award the best economic entities in 2016.

“100 biggest companies in BiH” is the only project of this kind at Bosnia and Herzegovina level, it has credibility and is accepted by business stakeholders. The ranking is generated objectively and on the basis of indicators provided by the company: the total income, net benefit generated, exports and investments.

By claiming this award NSoft has been positioned as the leader in IT sector in Bosnia and Herzegovina, having surpassed some foreign companies. In the category of large companies NSoft has claimed 93rd place.

NSoft prides itself on having state of the art product portfolio highly recognized on the market and is devoted to creating a business environment that will maximize its customers’ sales opportunities.