The Presidential Decree on Reduction of the Tax on Games of Chance has been published

According to the Presidential Decree numbered 8003 published in the Official Gazette dated 28 December 2023, and numbered 32413, the tax rates, including those specified for the revenue generated from games of chance, as well as those determined for parimutuel betting on sports competitions and horse racing, have been reduced by half.

The Presidential Decree numbered 8003 on redetermination of the rates in the Law of Regulation of Tax, Fund and Shares from Revenue of Games of Chance numbered 5602 (“Decree”) has been published in the Official Gazette dated 28 December 2023 and numbered 32413.

Pursuant to the Decree, the rates of chance games tax have been reduced. Accordingly, the rates of chance games tax in the Article 6/4 of the Law on Taxes, Funds, and Shares from Games of Chance Revenue numbered 5602 have been amended as follows:

• For parimutuel betting based on sports competitions, the rate of 10% has been reduced to 5%.
• For horse racings, the rate of 14% has been revised to 7%.
• For other games of chance, the rate of 20% has been determined to 10%.

This Decree will enter into force as of 1 January 2024.

Details of the regulation can be found through this link.