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Greece Government To Introduce New Regulations In Online Gambling Industry

The government of Greece wants to restructure online gambling. The government plans to introduce new regulations in licensing fees and taxation. The provision will apply to 24 online operators who had been issued with a temporary license in 2011. The government also wants to ensure a permanent permit to replace the temporary licenses.

In 2018, the first draft for gambling reforms was proposed by the Ministry of Development in Greece. The draft was tailored to raise the costs for online gambling operators. The permanent permit for iGaming will now cost 3 million euros while in online casinos and poker it will be 2 million euros.

The regulations will also demand that online gambling platforms pay 35 percent of gross gaming revenue as tax. The tax is also to be deducted after corporate tax has been applied. The rise of tax is said to have been pushed to discourage new international competitors from entering the market.

Greece government has been accused of unfair trade following special rulings over the years. Several international operators have filed unfair trade protests with the European Commission.

The new regulation is a move that could help the country that is struggling financially while keeping foreign operators from entering the market.
Source: https://europeangaming.eu/portal/latest-news/2019/10/14/56361/greece-to-raise-tax-rates-on-online-gambling/

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