spain follows through with tax break for burgeoning online gambling marketby Joker 03.07.2018 0 comments
Spain’s Parliament has pushed forward with its 2018 fiscal budget, which will implement a significant 5% tax reduction on a number of online gambling/betting services.
Spain cuts taxes on gross gambling revenues from 25% to 20% on a range of industry online verticals including sports and exchange betting, online casino games and horseracing.
Despite the recent upheaval in Spanish politics, which last June saw Mariano Rajoy discharged as Prime Minister following bribery scandals attached to the governing Partido Popular (PP – Conservative Centre Right).
The Spanish parliament has decided not to delay its budget, which was initially agreed on in May, with the new fiscal policies being implemented by the new PSOE (socialist) government led by Pedro Sanchez.
The tax breaks come at a crucial point for the burgeoning Spanish online gambling market, which is set to expand its licensing programme in 2018, welcoming a number of new operators to its marketplace.
From a governance perspective, Spain will maintain its federal and regional divide between online and land-based gambling services.
The Federal government will continue to regulate the Spanish online gambling marketplace through the Dirección General de Ordenación del Juego (DGOJ), whilst Span’s autonomous communities will be able to grant individual gambling concessions to enterprises adhering to DGOJ standards.