Spain Proposes Sweeping Cuts To Online Gambling Taxes

Spain’s national government has proposed a tax cut for most forms of online gambling to 20 percent in its draft budget, but political hurdles still need to be cleared before the bill can be passed into law.

In the Congress of Deputies, the lower house of parliament, on Tuesday, Cristóbal Montoro, the minister of finance and public function,  announced that the reduced tax rate was being proposed in the hopes of attracting more licensed operators to Spain, and to help combat the country’s offshore gambling market.

The draft budget proposes that the remote gambling tax rate for fixed-odds sports betting, betting exchanges and fixed-odds horseracing be reduced from the current 25 percent of gross gaming revenue to 20 percent.

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