Gambling Taxes in Italy Are Set to Increase

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Gambling Taxes in Italy Are Set to Increase

Postby Nick9 » Sat Oct 19, 2019 4:06 pm

For most of 2019, Italy’s gambling revenue has increased. Unfortunately, the increase in revenue has also led to some crime groups entering the gambling industry. Gambling taxes in Italy are now set to grow, and the government is working to stamp out illegal gaming operators.

A lot is going on with this country’s gambling market. Some significant changes appear to be just around the corner. Let’s look at what the Italian government has planned for the land-based and online gambling industry.

Online Casino Revenue Continue to Soar in Italy
For many years, lawmakers in Italy blocked all foreign gambling websites from accessing their market. In 2006, members of the EU challenged the country’s set of online gambling laws, arguing that foreign companies should be able to operate here. In 2010, the government decided to open its market to the outside world.

Almost immediately, many of the top gambling companies in the world began requesting a license to operate here. Today, most of the biggest and best gambling sites in Europe are now available here. Since 2010, gambling revenue has steadily increased here.

Online casino revenue has been growing significantly here. In September, this form of gambling saw a revenue percentage increase higher than its sports betting counterpart. According to the Agenzia delle Dogane e dei Monopoli (ADM), online sports betting operators brought in €128.6 million in September. This represents an 8% decrease from the same month last year.

Amazingly, online casino operators in Italy brought in €71.8 million in September for an increase of 22% compared to September of 2018. While sports betting brought in more revenue overall, it appears that online casino gambling is growing bigger.

For many years, gambling taxes in Italy were reasonably normal. Recently, lawmakers have proposed increasing the country’s tax rates.

Lawmakers Consider Raising Gambling Taxes in Italy
The Italian government is looking for new and improved ways to generate revenue. Lawmakers here have also begun taking a closer look at online gambling regulations, claiming they are not effective enough at stopping gambling addiction. Several new gambling restrictions have been set in place recently, including one that significantly limits how companies can advertise their services.

Members of Italy’s media got a brief glimpse of the government’s 2020 fiscal budget. According to numerous reports, the government plans to boost the tax rate on large lottery jackpots from the current 12% to 20%. It’s not causing any real uproar, as only a couple of these jackpots are won every year.

This isn’t the only way that gambling taxes in Italy are changing. According to new reports, the government also plans to impose a new 12% tax rate on all gamblers’ winnings over €500. Tax rates will also increase along with the value of winnings, topping out at 23%.

Politicians here want to cut rates of tax evasion, too. Laura Castelli, Deputy Minister for the Economy, believes that the government’s fight against illegal gambling activities would “move forward, not backward.”

Unfortunately, it appears that illegal operations continue to make their way into the gambling industry.

Italian Police Likely to Charge Austrian Billionaire and Mafia Group Over Gambling Ties
A few weeks ago, Italian prosecutors accused Dutch billionaire Marcel Boekhoorn of using money obtained through a mafia business partner to fund his company’s acquisition of an Italian gambling software business. Prosecutor’s offices from Reggio Calabria, Catania, and Bari have uncovered illegal gambling operations with combined annual revenue of €4 billion.

Some of these mafia-run gambling operators have ties to Malta, one of Europe’s biggest gambling licensing hubs.

SKS365, a Malta-registered Austrian gambling company, is being accused of operating the largest tax evasion case of any online gaming operator in Italy. Company officials are likely to be tried in court over the next few months.

Gambling taxes in Italy are going up. Hopefully, the government doesn’t make things too hard on the legal and hardworking online gambling operators here.

Stay tuned for more Italian gambling news over the next few months!
Nick9
Rank: Senior Member
 
Posts: 38
Joined: Thu Nov 08, 2018 1:46 pm

Re: Gambling Taxes in Italy Are Set to Increase

Postby nath5 » Sun Oct 20, 2019 6:25 am

Thanks God we are not in Italy :D The world of online gambling is developing extremely fast, so that everyone can play online casino from any point of the world, at any time. Just make sure you picked a reliable gambling service https://casinobetsites.com/ .
nath5
Rank: Senior Member
 
Posts: 40
Joined: Thu Nov 08, 2018 1:36 pm


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