Georgia plans tax breaks for casinos hosting international gambling tournaments
Georgia proposes tax exemptions for casinos and foreign players hosting international gambling tournaments with prize pools exceeding GEL 3 million.Summary
A new legislative package submitted to the Georgian Parliament aims to boost tourism and economic activity by incentivizing international gambling tournaments. The proposal, authored by Shota Berekashvili and other Georgian Dream lawmakers, suggests exempting casinos from gambling business fees for tables used exclusively for tournaments with prize pools over GEL 3 million. Additionally, foreign nationals participating in such events would be exempt from income tax on their winnings.
To qualify, organizers must hold a casino operating permit and obtain a separate tournament permit, which requires an annual fee of GEL 100,000. The legislation also mandates that at least 70% of tournament participants must be foreign nationals. To ensure compliance, the package introduces significant penalties, including fines of up to GEL 150,000 for organizing tournaments without proper permits and the potential revocation of permits for rule violations.
(Source：Georgia Today)