Greece set date for iGaming licenses

The government will introduce a new license legislation for the iGaming industry.

Greece.- The Greek government announced that next month will be introduced the new licensing process for the online gambling industry. The recent implementation of new rules was approved by the Ministers.

According to Greek Deputy Finance Minister Tryfon Alexiadis the new legislation of online gambling licensing rules has been revised and the authorities are ready to implement it in October. However, operators are expecting the complete publication of new rules to assess the market. In Greece, the punitive tax rate of gambling revenue is 35 percent.

The new regime will restrict companies which “avoid paying huge amounts of taxes, simply because they are established in other countries,” as Alexiadis commented. Furthermore, it will be stricter with how much betting operators are earning from their Greek punters.

Also, the new regime would include “reporting to the competent Greek authorities by foreign payment providers who are active in Greece” so that “financial transactions in conducting games of chance via the internet between Greek players and foreign companies can be more easily detected.”