Greece opts for gross profits tax
The Greek government has voted for a 30% gross profits tax on online gaming, rather than the initially proposed 6% turnover tax.
The Greek government has voted for a 30% gross profits tax (GPT) on online gaming, eGaming Review understands, rejecting the 6% turnover tax proposed in its initial draft bill.
A spokesperson for industry lobby group the Remote Gambling Association, which has been in discussions with the Greek Ministry of Finance over the fiscal regime and commissioned KPMG Athens to provide a report detailing the benefits of GPT over turnover, told eGR
“We understand that that the government has approved a switch to GPT. We very much welcome [this move] as has also occurred in Spain following similar discussions, albeit that the 30% rate that has been suggested in Greece is higher than other jurisdictions, and we will continue our lobbying efforts to bring this more into line with other countries that have licensed remote gambling.”
According to the initial draft presented by the Greek government to its parliament in January, the EU’s sixth largest gambling market plans to issue 15-50 five-year licences this year.
Sportingbet, which generates 15% of its NGR from Greece, last month declared its intention to apply for a licence in the territory.