Portugal Reviews Gambling Tax Regime
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The government of Portugal has started the review of its existing gambling tax regime. The government has appointed a working group for analysing the state of the country’s online gambling industry and finding any possible changes required in the system. The working group comprises six members, including representatives from SRIJ and Portugal’s Ministries of Finance, Economy, Tourism, and Labour. They have to submit their findings and proposals within 30 days.
The existing gambling law in the country came into force in 2015. The country’s gambling regulator Serviço de Regulação Inspeção de Jogos (SRIJ) first licensed a foreign company in May 2016, which started a new era in the provision of regulated gaming and betting services to Portuguese customers. The regulatory body has issued a total of 16 licenses since then.
While the reorganisation of Portugal’s market was generally welcomed by EU authorities and industry stakeholders, the country’s taxation regime was heavily criticised and rates were deemed too high to offer viable prospects for the nascent market.
Source: Latest News on European Gaming Media Network
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