While many parts of Europe, the UK especially, moves to try and curb consistent gambling, Spain is going the other way. The Iberian nation is on the verge of making a major change to their taxation laws, which would vastly change how Spanish and European gamers get to make the most of online gambling when in Spain.
Estimated to be in the $1.2bn+ range come 2023, Spanish authorities are very interested to try and help grow one of their largest industries. Tax cuts often help to fuel interaction and innovation in any industry, and this latest move from Spain will likely go some way to determining that.
With a tax cut down from the present 25% to around 20% is being mooted by authorities. This came after Cristobal Montero, the Spanish Minister of Finance and Public Function presented the idea to the Spanish Parliament this week.
While nothing is in place yet, this is a very important move for the European online casino gaming industry. With the constant attacks in the UK, there has been a major move to try and secure and promote safety within the game for players across Europe.
This move, though, would only help to fuel one of the major economic drivers in Spain’ economic recovery. This very important change could help to fuel growth and add even more power to one of the most surprising yet consistently powerful parts of the Spanish economy. More to come as follows.