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Greece Reconsiders Tax Hike For Online Gambling, No Double Taxation
Greece Reconsiders Tax Hike For Online Gambling, No Double Taxation
Europe

Greece Reconsiders Tax Hike For Online Gambling, No Double Taxation

The government in Greece has reconsidered its plans to introduce double taxation on online gambling in the country.
Earlier in the month, the country’s Ministry of Development and Investment revealed its plans to introduce tax hikes for the online gambling industry in the country.

In the said proposal the cost of online sports betting license was reduced €1m to €3m, and the operators were to pay a 35% tax on their gross gaming revenue. According to the new draft law, operators would not be allowed to deduct this tax before their corporate tax is applied.

The cost of online casino and poker licenses is doubled to €2m. The licenses will be issued for a period of seven years and the license fees will have to be paid again upon renewal.

While the government has amended the legislation to clarify that operators will be allowed to deduct their revenue tax before corporate tax is applied, the ministry is unmoved to bring a 35% revenue tax rate.

The government is also facing opposition from the gambling operator OPAP.

In the meanwhile, Greece has received two proposals for developing the Ellinikon casino. Hard Rock International (HRI) and a consortium led Mohegan Gaming & Entertainment (MGE) have officially tendered their bids for the casino project within the stipulated time.

The Hellinikon integrated resort project is estimated to cost eight billion euros. It would be developed on the site of Athens’ old international airport.

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Cameri Ross

Cameri Ross

Cameri is an independent and self employed person, she has expertise in digital marketing and content creation for websites and blogs. Her passion is dancing and singing, especially classical singing.

She can be reached out at: [email protected]

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