Spain institutes wide range of tax cuts for gambling businesses
July 05, 2018 9:33 AM
by Robert Mann
A wide range of tax cuts for gambling businesses in Spain have been instituted as part of the nation’s long-delayed 2018 budget. The changes became effective July 1 with hopes of fortifying Spain’s gambling industry.
The gross gaming revenue levy is being trimmed from 25 percent to 20 percent and covers a wide mix of online gaming activities including sports betting, fixed-odds betting, fixed-odds horse racing, online casino games, bingo and poker, and betting exchanges.
In addition, the tax rate on gross gaming revenue from pari-mutuel sports betting was cut from 22 percent to 20 percent. Conversely, the tax on pari-mutuel horse racing and pool betting gross gaming revenues was increased from 15 percent to 20 percent.