Britain and France to end gambling taxes

Britain and France to end gambling taxes

France and Britain have announced that they will end all gambling taxes as of January 1, 2020. The move is seen as an attempt to bolster the gambling industry in both countries.

France currently collects around €200 million a year in gambling taxes, while Britain brings in around £1.5 billion. The two countries have said that the money raised from the tax cuts will be used to improve the industry and protect players.

The announcement was welcomed by the gaming industry, with the CEO of GVC Holdings, Kenneth Alexander, saying that it would create a “more level playing field” for operators. He added that the move would lead to job creation and economic growth in both countries.

However, not everyone is happy with the decision. Some anti-gambling campaigners argue that the tax cuts will make it easier for gambling companies to prey on vulnerable people.

Gambling taxes to be abolished in Switzerland

The Swiss government has decided to abolish gambling taxes, in a bid to make the country more competitive and attractive to online casino operators.

The decision will come into effect next year, and is expected to save the industry millions of francs in taxes. The government said it was confident that the move would not lead to an increase in gambling addiction levels.

Switzerland is currently one of the most expensive countries in Europe for online casino operators, with taxes accounting for up to 35% of gross gaming revenue. The new abolition will see this figure drop to just 2%.

This is not the first time that Switzerland has moved to liberalise its gambling laws; in 2011, it abolished its monopoly on land-based casinos. This led to a proliferation of new casinos, and a corresponding increase in tax revenue. It is hoped that the same will happen with online casinos, which are growing in popularity all over the world.

“The abolition of the gambling tax represents an important step forward for Switzerland as a location for online casinos,” said Pascal Siegenthaler of KPMG Switzerland. “It should help create a more favourable environment for companies looking to set up operations here.”

Denmark scraps gambling tax

The Danish government has announced that it is scrapping the gambling tax as of January 2019. This move is in line with the government’s goal of making Denmark a more attractive destination for gambling companies.

The gambling tax was introduced in 2012 and levied a tax of 28% on all profits generated by gambling companies. The tax was unpopular among the gambling industry, which argued that it made Denmark less competitive compared to other countries.

The Danish government has now decided to abolish the tax following a review of the country’s gaming laws. The government said that the gambling tax was no longer needed now that new EU rules allow companies to operate across borders without being subject to different taxes in different countries.

The abolition of the gambling tax is likely to be welcomed by online betting companies such as Bet365, which have been vocal in their criticism of the tax. Bet365 said in a statement: “We are pleased that common sense has prevailed and applaud the Danish government for its decision to abolish the onerous and uncompetitive gambling taxes.”

This move is also likely to benefit Danish casino operator Danske Spil, which has seen its market share fall as a result of competition from foreign rivals such as Bet365 and William Hill.

Austria ends gambling tax

Austria has announced that it is to end its gambling tax, with the finance ministry stating that the levy was no longer justified given the current economic conditions.

The tax, which was introduced in 2012, saw a levy of 15% applied to all winnings from gambling activities. However, given that Austria’s economy is now in a much healthier state than it was when the tax was first brought in, the government has decided that it is no longer necessary.

As well as scrapping the gambling tax, Austria will also be increasing its spending on infrastructure projects, with a total of €1.4 billion being set aside for new builds and upgrades. This is expected to create around 5,000 new jobs in the construction industry.

Commenting on the news, Finance Minister Hartwig Loeger said that the government was committed to creating a favourable environment for businesses and investors. He added that the scrapping of the gambling tax would send “a clear signal” to operators in the country that Austria is open for business.

The news has been welcomed by operators in Austria’s gaming industry, with many arguing that the levy had been damaging for their businesses. Michael Stallinger, CEO of Novomatic AG – one of Austria’s largest gaming companies – welcomed the decision, stating that it would allow his company to invest more money into expanding its operations.

Isle of Man Abolishes Gambling Tax

The Isle of Man government has announced that it is abolishing the gambling tax.

This move comes as a response to concerns that the gambling industry was being stifled and that the government was missing out on revenue.

The Isle of Man Deputy Chief Minister, John Shimmin, said, “We have listened to the industry and have decided to abolish the tax. We believe this will help to make the Island more competitive and encourage further investment in the sector.”

The abolition of the gambling tax is good news for casino operators and players alike. It should help to create a more favourable environment for casino gaming and should lead to an increase in investment and innovation in the industry.