President promulgates two laws directing 5% of the gambling taxes to Culture

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President Klaus Iohannis on Wednesday promulgated a law stipulating that 3 percent of the money collected from gambling will annually reach to the Culture Ministry for the historical monuments’ restoration. The President also promulgated a second law that says that 2 percent of the gambling fees will go to the cinema fund.

Chamber of Deputies have passed the two laws in early May.

According to the first law, 3 % of the sums collected from the economic operators in the gambling business will be redirected to the Culture Ministry on an annual basis to finance the restoration and consolidation works of the historical monuments. The money will be sent until May 31 for the previous year.

Another 2 % of the gambling money will go the cinema Fund to encourage and support the cinema industry. The payment is also made annually and must be transferred until May 31 for the previous year.

Early this year, the Culture Ministry asked for the increase of the percent derived from the gambling fees from 1 % to 5 %.

The ordinance draft stipulated that 2 % out of 5% allotted to the Culture Ministry from the gambling taxes should go financing the restoration of the historical monuments with high seismic risk which host national and local public cultural institutions. The also asked that 1.5% should go the cinema fund and another 1.5% to go to the National Restoration Programme of the Historical Monuments.

According to the 2016 budget law, 1% means about RON 14 M.

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