Tax On Gambling Business In Portugal Will Be Revised

The government of portugal instructed the working group to analyze the state of the gambling industry in the country and to estimate whether changes should be made in the taxation of gembling services.

This is reported by the local infocul information center. The new law of portugal on gambling entered into force in 2015, but only in the spring of 2016 the real process of reorganizing the local market began. Servi national gambling regulatorço de regulação inspeção de jogos (srij) issued the first license of a foreign company interested in may 2016. This was the beginning of a new era in the provision of gambling products and rates for portuguese customers. Since then, the regulatory authority issud 16 licenses.

Specially assembled working group consists of six members, including representatives of srij and ministries of finance, economics, tourism and labor of portugal. The number of taxation regime the country and submit their conclusions and proposals to the government on possible changes in the amount of tax for gembling and betting services.

While the reorganization of the portugal market as a whole was welcomed by the eu authorities and industry stakeholders, the country’s tax regime was tight criticism – rates were considered too high.

According to portuguese legislation, the services of interactive sports rates are subject to tax from 8 to 16% from turnover, while organizers of online casino games and poker pay a tax from 15 to 30% from annual income. Licensed operators constantly complained about tax rates in recent years, arguing that the are excessively high.

Previously, it became known that the revenue of the gambling operators of portugal in 2018 incrased by 24% compared with 2017.