Russian Gambling New
The Russian Cabinet determined during the January, 2006 to place the power to grant licenses to gambling institutions under the authority of the Federal Tax Service (FTS). The choice will clear the deadlock over gambling licensing that had crippled Russia's gambling industry's ability to compete against international gambling enterprises.
All gambling licensing has been delayed since 2005 after the State Sports Committee was disbanded. Market investors warned that placing both licensing and toll responsibility with the tax examination would give the administration body unlimited power that hurts companies democratic right for expansion and development.
This move would allow the Russian gambling industry to prepare for the globalization of the gambling market as more and more Super Casinos built casinos at foreign locations including resort sites across Russia. During 2006 the Russian Cabinet is also about to liberalize the current taxation acts imposed on the Russian gambling industry, hopefully this move would also boost this blooming industry.
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