Will Portugal Revise Taxation For Gambling Industry?

Will Portugal Revise Taxation For Gambling Industry?

The Portuguese government has constituted a working committee to report on the gambling industry and examine if there is any need to make changes to the existing tax structure in principal.

The committee is a fact-finding group with the responsibility to review the gambling industry. The move of the government of Portugal is being seen as an attempt to revise the tax system and structure that applies to the gambling industry in the country.

The review team has six members. The members are representatives from SRIJ and Portugal’s Ministries of Finance, Economy, Tourism, and Labour. The working group has to complete its task of reviewing and analysing the current situation of the gambling industry in Portugal and deliver a complete report no later than 30 days.

Gambling is legal in Portugal, and the country’s existing gambling law came into effect in 2015. A lot had changed for Portugal’s gambling industry since May 2016 when Serviço de Regulação Inspeção de Jogos (SRIJ), the country’s gambling regulatory authority issued a license to a foreign company. After that, the number of casinos in Portugal increased drastically, and since then there have been 16 licenses issued by the Portuguese government.

Though the operators and service providers well received the move by the government, it met with much criticism in the country.

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