Friday February 15,2013 : SWITZERLAND TO OVERHAUL GAMBLING LAW
Derive benefits from taxing online gambling operations
The Swiss Federal Administration has issued details on the launch in the second half of the year of a consultation regarding its proposed new gambling law.
The proposal will include lifting the existing ban on online casinos and regulating the industry with the Swiss Federal Council utilising tax revenues derived from licenced online operations to fund cultural, sporting and social projects.
The Administration said the Federal Department of Justice and Police in collaboration with the 26 federal states, gambling industry and gambling addiction experts are currently drafting a law that covers internet gambling which would be "legalised and subject to the same regulatory conditions as the traditional offer".
Additionally, the Administration intends levelling the playing field with regard to taxation on lottery and wagering gains, saying it intends exempting betting gains from taxation, the same framework that casino gains currently enjoy.