The Parliament of Spain finally decided to pass the 2018 budget with lower taxes for gaming operations.
Spain.- Gaming operators were benefited by the 2018 Spanish Budget as legislators approved a project that reduces current taxes for the industry. According to Spanish Parliament’s representatives, the lower taxes policy aims to conquer further deals with international gaming operators.
Yesterday, the Parliament of Spain passed the 2018 Budget that includes lower taxes for casino and sports betting operations. Spain wants to maintain its position as one of the most attractive markets for gaming development at international level and its latest policy on gaming financial regulations proves the intentions of authorities.
Under the 2018 Budget, the Spanish market will reduce the taxation regulation to five per cent and will be applied to all betting exchanges, fixed-odds sports betting, other fixed-odds betting and horse racing, as confirmed by the government. Online casino, poker and bingo will also see a five per cent reduction of taxation. However, pari-mutuel sports betting will only see a reduction of two per cent from 22 to 20, as reported by local authorities.
Meanwhile, a proposal by Spain’s Partido Popular (PP) has been submitted to the Joint Commission for Study of the Problem of Drugs to set a levy on gaming revenue in order to fund problem gambling treatment. The document establishes measures to prevent gambling addiction and further treatment for those already suffering from it.