The news that came out from the Spanish parliament just a few days ago were great for all the gambling operators offering their services in the Iberian country. According to the 2018 budget, there are going to be lots of important cuts in taxation concerning the gambling industry. The reason is obvious, since the government aims in attracting as many more operators as possible.
The number is impressive, since a 5% tax reduction is under way, after the 2018 budget passed in the parliament. This reduction is going to apply on fixed-odds sports betting, other fixed-odds betting, fixed-odds horseracing, betting exchanges, as well as other games including online casino games, bingo and poker. To be exact the taxation is about to be transformed from 25 percent to 20 percent.
On the other hand, there was an increase on the taxation concerning pari-mutuel horseracing and pool betting, rising from 15% to 20%. It is sure that those changes on the taxation rates will be most welcome by the operators, which have been looking for more reasonable tax rates, a matter that has been in discuss since last April. And now this important change for the Spanish gambling industry seems like it is going to be on its way.