Last year’s Romanian Presidential election surprised the whole world. This has come as a surprise to the Romanian’s aswell, but they can certainly say that the true democracy, which was instated 25 years ago, is a Transylvanian Saxon, part of Romania’s German minority becoming the president.
But, the election of Klaus Iohannis as President of Romania wasn’t the online viral news coming from this area. The online gaming world has been surprised aswell, since Romania finally regulated the online gaming market late last year by modifying the law which was set up in 2009, where they’ve restricted all online gaming activities.
Thus the new regulation allows foreign companies involved in online gambling industry to register and get licensed on the territory of Romania. Most of the new amendments brought by GEO 92/2014 will enter into force within 45 days as of Dec. 30. The Government will issue implementation norms within 30 days following the expiry of the initial 45 days.
Taxes will be differentiated by turnover tax and will start from 6.000 Euros and can go up to 120.000 Euros. The above bracket will explain the figures:
6.000 Euros for companies with annual turnovers up to 500.000 Euros
24.000 Euros for companies with annual turnovers between 500.001 and 1.000.000 Euros
60.000 Euros for companies with annual turnovers between 1.000.001 and 5.000.000 Euros
96.000 Euros for companies with annual turnovers between 5.000.001 and 10.000.000 Euros
120.000 Euros for companies with annual turnovers over 10.000.000 Euros
“Administration” fees have been added aswell, 2.500 Euros for the document analysis and 8.5000 Euros/year/license.
We shall cover this news in detail in our Eastern European Gaming Report.
