Tax Hike For Gambling Customers In Italy

Tax Hike For Gambling Customers In Italy

The government in Italy has announced further tax hikes which would impact the customers of gambling operators in the country.

According to the reports in the local media, the government plans to increase the tax rate on large lottery jackpots–defined as those over € 100 million–from the current 12% to 23% in 2020 fiscal.

It is also reported that the government will be introducing a new 12 percent tax on gamblers ‘ winnings below € 500. It is this winning that statistically comprises the majority of the punters’ winnings and which is not taxable at present.

While the government is planning to get more out of gambling tax revenues, there have been contrary views and some critics have opined that further increase in taxes would negatively impact the overall revenue.

The Italian government has been strict against the rise of gambling in the country. The gambling regulator has introduced a series of measures including an increase in taxes for both online and land-based gambling operations and banning gambling adverts and sponsorships.

Gambling operators in Italy are still concerned over the new gambling Ads restrictions which are yet to be finalized. Earlier, last week the country’s gambling regulator Autorità per le Garanzie nelle Comunicazioni (Agcom) had announced that they have already drafted the new gambling advertisement code. New regulations restricting gambling adverts were announced last August.

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