Monday November 23,2015 : ITALY’S SENATE PASSES AMENDMENTS IN GAMBLING LAW
Expects to increase annual tax yield from gaming industry to Euro 1,107 billion.
Italy’s proposed gambling law amendments are progressing through Parliament as they passed a Senate vote 164 for, 116 against and 2 abstentions at the end of last week.
The amendments for 2016 include an increase in the overall gaming tax expectation of Euro 1,107 billion which the Government aims to raise from a 2 percent increase in AWP taxes and a 0.5 percent increase on VLT’s. These taxes alone are expected to account for Euro 600 million.
The shortfall of Euro 507 million is expected to be raised through the renewal of contracts which expire in 2016 including 15,000 sports betting corners and shops, 210 Bingo Halls and 120 online gaming licenses.