Gambling up 10 percent from 2017
The president of Albania has exercised his veto power to reject proposed changes to the country’s gaming tax structure. President Ilir Meta argued that legal changes approved by the ruling Socialist Party last month would have “a negative effect on the state budget” and be “harmful and unproductive for the Albanian economy.
The changes, which include a cut in the gaming tax from 15 percent of the turnover rate to 15 percent of GGR, are “not based on sustainable socio-economic arguments and does not guarantee a healthy development of the Albanian society,” the president said.
“The implementation of the legal changes would only benefit gambling businesses at a time when the expected effects on the state budget or household economy are negative. Article 6 of the law also runs counter to meeting Albania’s social targets and legislation in force discouraging gambling activities and increases the probability of negative phenomena on Albanian households,” he continued.
“The gambling business model does not produce added value for the society, on the contrary the expansion of this industry brings potential risk that impoverish Albanian households and cause social drama.”
According to the Tirana Times, gambling is a big business in Albania, with residents spending a record 16.6 billion lek (US$152 million) in 2017, up 10 percent compared to the previous year.
