In Italy Will Increase Taxes On Slot Machines

According to the new tax plan of italy, the main burden will suffer gambling operators, whose activity is related to the work of the slots, the players managed to avoid the introduction of tax on winnings.

Italy’s government sent a budget plan for 2020 for the approval of the european commission. Last week, a project directed to brussels has undergone many adjustments. One of them was an increase in tax collecting plan from gembling operations related to the work of the slots.

The budget provides for increasing tax rates on income received from entertainment with prizes (awp) and video solver terminals (vlt). Since february 10 of the next year, the tax rate on awp will increase from 21.6 to 23%, and on vlt – from 7.9 to 9%.

According to pre-forecasts, increasing the tax burden will bring the treasury additional income from awp in the amount €268.4 million, and from vlt – €230.5 million.

Large gambling operators, such as playtech, previously warned their investors about how the increasing taxes in italy will affect the company’s profits. Promotions playtech lost 9% of their value in the last month. Pricing was caused by rumors about the plans of the italian government to increase taxes.

The gambling regulator makes the maximum effort in the fight for the reduction of the shadow segment of gambling business. The central register of licensed gambling operators was created. New rules suggest fines in the amount of €1.3 million for financial institutions that handle payments unlicensed operators.

The authorities also plan to use specially trained tribunal agents, the purpose of which will be monitoring operators for tax evasion and the provision of minors services.

Nevertheless, the previously discussed tax on winnings was not supported. At the same time, experts note that operators may try to move part of the tax burden on players.

Recall that in italy there is a program of self-slipping players.