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Febuary 25, 2009 - Stagnant Results For Spains Onine Gambling Taxation

Based on a report from the Swiss-Presse news service, the current efforts to regulate and tax online gambling in Spain have stalled. It is likely that it will be another year before there is a system in play that supports this effort. This report also quoted the Spanish Association of Internet Bettors as estimating that companies operating in this sector made in excess of $257 million last year alone. The government on the other hand has lost around $26 million in taxes as this issue drags on.

Currently, online gaming is in a stagnant state and is in desperate need of change. Companies that are located outside of Spain are paying taxes to the country in which they reside. This is causing quite a problem as this taxation could be put to good use in its own country. In 2007 the Spanish Congress of Representatives approved its own "Law of Measures To Boost The Information Society". In this piece of legislation, there included a commitment to bring forward a bill that regulated online gambling and betting. This would be helpful piece of legislation never went anywhere. Upon realizing that no progress was being made on the matter, a meeting of the Gambling Sectoral Commission was called to order. Again no progress was made.

Hopefully Spain can come up with some sort of taxation bill to help out the online casino industry over there. The AED API revealed that UK firms are paying 15% as opposed to the tax rate of places like Madrid who are paying only 10%. With this much determination it will only be a matter of time before there is proper taxation for online gaming sites that operate in Spain, but sooner is much better than later.

 

 

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