Increase on Gambling Taxes in the Czech Republic?

Czech Republic's Finance Minister, Andrej Babis has a plan to increase taxes on betting companies in 2016 which will cost them dearly. Babis is considering doubling the current 20 percent tax rate. In fact, he has plans to increase the tax on gambling 30 to 40 percent depending on type, fixed odds betting or electronic gaming machines. The proposal of the increase is set to be brought forth on Friday in an attempt to collect 6 billion Czech crowns ($270 million). The Czech government has been taking a look at its online gambling policies in hopes of making it more attractive for foreign operators to enter the market; however a tax increase is not the way to do it.