Georgia confirms gambling tax increases in 2024

Georgia's prime minister has approved an executive order enacting fresh regulations for the gaming industry. They include increased gambling taxes and new guidelines for adhering to Georgia's age-restricted gaming laws.

There will be an increase in the tax rate on gambling profits from 10% to 15%. A tax on player withdrawals will also increase, going from two to five percent. The state is anticipated to receive an additional €137 million annually as a result of the hikes.

 

[Nii]

So we that are living in climes that we don't have to pay tax to withdraw our gambling earnings are really enjoying. But 5% on winnings to be paid as tax is somehow too high. Is the government trying to discourage people from gambling or it is just trying to raise revenue from that sector.