For anyone who likes to play online casino gaming in Spain, you’ll be happy to know that the incentive to do so just increased massively. Spanish legislation has changed to help adjust tax rates, instead of making them more favourable.
As part of the budget breakdown, tax cuts for online gambling operators were put forward. One of the main changes was a 5% drop from 25-20% for gross gaming revenue. That major change is a big step in the right direction, and applies to everything from online casino gaming to bingo and poker, sports betting and fixed odds betting.
Also, the tax rate on all pari-mutuel sports betting gross gaming revenues have dropped from 22% to 20%, which is a nice change. This makes it more in-line with the use of a state-owned resolution, further rounding out the costs of playing.
This change is going to help make sure that more people are encouraged to take part. However, it should be noted that for any part-mutual horse arcing and pool betting games will instead be taxed at 25% as opposed to the previous 20%.
At the moment, these changes only promise to make a positive impact on the thriving Spanish online casino gaming industry. While changes are set to continue year-in, year-out as the government looks to help find a happy medium, these new tax changes are generally welcomed.
They should help to ensure that the industry can continue to thrive and that more people will be inclined to try out what is fast becoming one of the most popular forms of entertainment in the country.