Accounting monograph regarding the income obtained from the use of slot machines

The company Y is a Romanian juristic person, incorporated pursuant to the Law 31/1990 regarding companies keeping the books according to the Ordinance of the Finance Ministry no. 1802/2014. The company owns a gambling licence issued for the operation of a slot machine according to the Government Decision no. 77/2009. In order to enter the gambling premises, the customers have to pay an amount of RON 10, which represents the ticket for access to the gambling machine. The issuing of tickets and amounts collected from natural persons represent income that is taxable at the level of the company, whereas payments to natural persons are considered expenses. Apart from that, the gains of individuals are also subject to tax.

The gamblers benefit from a tax exemption that is applicable to gains of RON 600/ day.

The accounting registration for amounts collected from natural persons is as follows:

5311 ”Petty cash in RON”= 704 “Services rendered”

For the company, revenues from gambling are subject to income tax of 25% according to art. 75-77 of the Fiscal Code.

Accounting registration for expenses related to gains of gamblers:

6588 ”Other operating expenses” = 462 “Sundry creditors”

Withholding tax shall be registered as follows in the books of the company:

462 “Sundry creditors” = 446 “Other taxes and similar liabilities”

Payments made to players shall be booked as follows after withholding tax:

462”Sundry creditors” = 5311 ”Petty cash in RON”

Tax payment shall be booked as follows:

446 “Other taxes and similar liabilities” = 5311 “Petty cash in RON”

The forms regarding the registration of amounts paid and collected for this type of gambling are stipulated under the Appendixes 8a-8b of the Government Decision no. 870/2009, for an approval of the regulations of application of the Government Emergency Ordinance no. 77/2009 regarding gambling. The most used form is „Report on amounts collected daily from the operation of slot-machine systems”.

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