In the race for global leadership, intending to outperform China, India is seeking ways to replenish the budget. India’s parliament has approved a new tax on online gambling, casinos, and horse racing bets, according to the country's parliament press service. The amendments to the Goods and Services Tax (GST), enabling to levy a 28% tax, will come into force on October 1. According to the Ministry of Finance, industry fees will grow tenfold. Last year, they totaled $200 million. However, the industry representatives fear that the new tax may force Indian companies to flee to other countries, leading to mass closures and layoffs. The government has promised to close all tax loopholes. As for now, cyber athletes and console users are not obliged to pay the tax if computer games do not involve additional online purchases.
