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More reasonable approach to taxation for Italian Online Gambling
Sunday March 1,2015 : BETTER TAX AHEAD FOR ITALIAN ONLINE GAMBLING OPERATORS
Less interference in betting categories, and a more reasonable approach to taxation on the cards in Italy.
The first quarter of 2015 could see a more understanding and reasonable taxation regime for online gambling operators in Italy, with better wagering options and the replacement of the heavy taxes currently levied on turnover in some categories with a more sensible tax based on gross gaming revenue as is currently applied to the online poker and casino verticals.
The moves are believed to be motivated by a desire to enable Italian operators to better compete with international rivals.
New arrangements include a shift from taxing turnover in some categories to imposing a maximum 20 percent tax rate based on gross gaming revenue across all betting products.
Flexibility is built into the new approach, which permits a reduction in the 20 percent rate if necessary and depending on market performance.
Sportsbook operators will also be pleased with changes planned for their category, namely the end of interference by the regulator in what bets may be accepted. The process of having an official list of accepted types and markets for wagering, the "palinsesto ufficiale," is to be abandoned, giving operators greater competitive freedom.
Whilst the online poker vertical in Italy continues to struggle with weak performance, online casino activity is rising and sports betting revenues are up.
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PlaySugarHouse To Carry Konami Content -
Content provider Konami will provide its Gypsy Fire and Fortune Stacks slot games to Rush Street Interactive-operated PlaySugarHouse.com on an exclusive basis in the New Jersey real-money online and mobile wagering market.
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.
GSA To Launch European division -
The expansion enables the GSA to better focus on the regional needs of its members outside of North America and underscores its recognition and commitment to growing European membership.
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.
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.
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