26 May
In News
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Greek government approves fixed 35% tax rate for online gaming operators

The Greek government has given its nod to charge 35% tax on gross gaming revenue for licensed online gaming companies operating in the country.

Greece at the moment is functioning under a 30-35% duty system, which will now be substituted with a new model come January 2017.

There are 24 licensed operators in debt-ridden European country. The 35% tax rate will apply to not just all of them but also product types.

Under the new structure, state-owned operator OPAP will match these rates so that European Union (EU) can be assured of fair business competition practices.

Greece currently is faced with several loan sanctions from the EU and the government needs to meet a surplus of 3.5% of its national budget.

Hence the introduction of new tax system for iGaming operators aims at helping the state in raising approximately €54 million from the industry’s duties.

 

Kai

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