Spain slashed tax rates for online gambling operators

Spain’s Congress of Deputies, which is the lower house of the national government, has slashed tax rates for online gambling operators in the country.

A string of tax cuts for online gambling operators were confirmed – headlined by a five-per-cent cut in gross gaming revenue from 25% to 20%. This move is intended to attract more licensed operators to Spain’s booming online gambling market.

Companies located in the tiny Spanish enclaves of Ceuta and Melilla on the northern shores of Morocco’s Mediterranean coast will continue to be taxed at 10% of online gross gaming revenues.

The changes were effective from July 1 and have been widely welcomed by companies with interests in the Spanish market who have long argued that the tax rates for online operators have been prohibitive.

 

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