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France Online gambling tax rates still undecided

French gambling industry executives and other parties interested in the possible regulation of Internet gambling in France assembled last week in Paris to discuss issues and listen to the latest progress report from French government officials responsible for driving the project and drafting proposed regulations.  The gathering attracted  Pokerstarssome 400 delegates - twice the number that attended a similar event last year, indicating growing interest in the future regulatory and tax regime in a tough economic climate.
 
French government officials told the gathering that they were on track to submit the first draft of a sports betting licensing scheme at the end of this (2008) year. Tax levels have yet to be clarified despite wide speculation that a 14 percent rate based on turnover may be applied - not a popular number with many operators who draw an important distinction between turnover and gross win.
 
Representatives of major French land gambling groups like Partouche and Barriere voiced frustration at the prospect of being unable to offer Internet gambling in competition with EU-based competitors and the state monopolies Francaise des Jeux and Pari Mutuel Urbain, and gave notice that they would lobby the French government for the right to compete.
 
There was some concern that it could be another year or more before operating licenses were issued, and it appeared to some that the global decline in business has brought the need for other sources of revenue into sharp and more immediate focus.
 
Delegates present at the meeting noted that government officials appeared to be paying close attention to consumer protections

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ITF TERMINATES BETWAY SPONSORSHIP DEAL - The International Tennis Federation (ITF) has reportedly terminated Betway’s three-year sponsorship partnership as an extension to their anti-match fixing and sports integrity policy.

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Paddy Power Trading Update - Company prevails despite adverse sports and US election results; Trump success cost the group GBP 5 million, whilst punter successes took another GBP 40 million in Q4-2016.

Tabcorp SunBets project - The details were revealed this week in an IT News article quoting Tabcorp's chief information officer, Kim Wenn, who described the SunBets project as Tabcorp's biggest global venture yet.

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China Lottery Sales Up in 2016 - The Chinese official news agency Xinghua reports that according to figures from the Ministry of Finance released Monday, Chinese lottery sales in 2016 rose 7.3 percent year-on-year to 394.64 billion yuan (about US$57.53 billion).

New chairman and a new director for 500.com - Chinese online lottery operator 500.com has announced major executive changes to the company with the apparently amicable departure of director and chairman Man San Law, as well as director Weiguo Zhao from its board of directors, effective January 20, 2017.

Russian betting Sites to face rise in tax rates - Online bookies also pay a 1 percent commission on each transaction through the TSUPIS, and face levies at 5 percent of GGR to assist Russian sports federations.

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