Italy evaluates higher taxes

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Credits: BusinessTech.

Higher taxes could be set for sports betting operators in the Italian regulated market.

Italy.- The regulation of the legal sports betting industry in Italy could face further changes in regards to financial structure. According to local press, the government is evaluating an increase in the current established tax agreement among online gaming and sports betting land-based operators.

Local authorities have revealed that the project’s proposal is to increase land-based betting taxes one point, from 18 percent to 19 percent. Furthermore, the soon-to-be-evaluated bill would establish an online betting tax increase from its current rate of 22 percent to 23 percent. The measure would be set by 2018.

According to the Italy’s Ministry of Finance, legislators are also considering an option that would “harmonise online and land-based sports betting taxes at 21 percent, whilst hiking fees on each land-based gaming outlet by a couple thousand euros.”

The online gaming sector in Italy has been reporting optimistic results, surpassing the total revenue of land-based operations. The government has been studying the well renowned development the industry has been reporting and seeks further advantages of it. According to a report demo Agimeg published last month, sports betting revenue from August doubled July’s, and achieved a 89 percent improvement.