27-05-2016

Romania Increases Lottery Cinema Funding

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    BUCHAREST: Romania will double the percentage of taxes collected from gambling and lottery which is allotted to the Film Fund from the current 1 percent to 2 percent according to a law approved on 25 May 2016.

    Previously one percent from gambling and lottery taxes went to the Film Fund. At the end of 2015, the Ministry of Culture had requested that the percentage from gambling and lottery taxes should increase to 5 percent, to be distributed to the consolidation and restoration of the cultural buildings with earthquake risk (2%), the Film Fund (1.5%) and the National Historical Building Restoration Programme (1.5%).

    After debate, the Chamber of Deputies decided on 16 May 2016 that 3 percent from gambling taxes should go to the restoration of historical buildings and 2 percent to the Film Fund. The president of Romania, Klaus Iohannis, approved both of the laws on 25 May 2016.

    Another 2 percent from the gambling and lottery taxes will go to the Ministry of National Education and Research, 2 percent to the Ministry of Youth and Sport and 2 percent to the Ministry of Health.

    According to the budget law for 2016, one percent amounts to approximately 3.15 m EUR / 14 m RON.