Czech President signs new gambling regulations into law
Czech President Miloš Zeman has approved a number of new laws regarding gambling and the taxation of gaming activities in the country.
The legislation sets out plans to create a new licensed online gaming framework that will open up the domestic gambling market to international firms, as well as allow regulators to begin blocking unauthorised sites.
The law also includes new tax rates of 23% of gross gaming revenue for sports betting and lotteries, and 35% for RNG casino games, on top of the standard 19% corporate tax rate.
Last month, the Czech senate voted 42-0 in favour of the new legislation, with President Zeman given 30 days to sign the bill.
Following his approval, the laws could come into effect as early as January next year.
The new laws have caused some controversy, with the Czech government last week suffering a number of hacking attacks on a number of its websites from an individual who claimed to be part of the ‘Anonymous’ group.