The imposition of a tax rate for companies operating in the field of online gambling, at the level of 35%, is proposed by a survey conducted on behalf of the Greek government.
More specifically, the American company GrantThornton handed over the report, ordered by the Greek government, which concerns proposals regarding the renewal of the structure and the framework of operation of the online gambling companies in Greece.
According to the GrantThornton report, Greece must offer two types of licenses: one license exclusively for sports betting and another license for all other types of gambling (casino, poker, etc.). At the same time, it is suggested to the government not to set a numerical limit of licenses, as this can create problems. Licensing restrictions have been in place in Germany for example in recent years, leading to many reactions and legal disputes, both at national and European Union level.
Licenses should be offered, under the supervision of the Gaming Supervision and Control Committee (GSC), for a period of seven years. The interested companies will have to pay an advance of 500.000 euros, as well as 50.000 euros per year. At the same time, the licensed companies must offer their internet services from Greek websites, ending in .gr and maintain servers in Greece, as is already the case.
On the issue of taxation, which seems to generate the most reactions and debate, GrantThornton proposes to the Greek government a single tax rate of 35% for all companies, regardless of the license they choose. This high percentage is expected to significantly reduce the interest of companies that would like to obtain an operating license in Greece, a fact that in itself seems to deal effectively with the issue of imposing a limit on the number of licenses.
If its suggestions are accepted by the Greek government, Grant Thornton, known for its other exhibitions in Greece, believes that the online gambling sector in Greece will show an annual growth of 7%, which will result in net profits. of € 1,3 billion for the State over the next 12 years.
At the same time, the Greek State requests from the English interests company GVCHoldings, the amount of 187 million euros for the activity of Sportingbet, which belongs to GVCHoldings in the period 2010-2011. At that time Sportingbet had not yet been acquired by GVCHoldings. Today, the owner company states that this debt is many times more than the real one. As the English company does not want to create a problem with the operation of its platform in Greece and may face a problem of new licensing, it has entered into a financial settlement with the Ministry of Finance, for the payment of 7,8 million euros per month for the next 24 months, while it is certain how to go to court, disputing much of this debt. Sportingbet Casino is one of the most popular online casinos in Greece in recent years, having a legal license, under the control of EEEP. The company offers important offers, many games and exemplary customer service. You can read more information in this review of Sportingbet Casino.
Our country has been in a process of continuous restructuring of the online gambling market for about a decade, without yet finding a stable and effective solution. The result is that the regime changes every three or so, creating market disruption and ongoing problems, both for companies wishing to be licensed and for players who see companies constantly entering and exiting the Greek market.
The Treasury Department's goal last September was to resolve the issue of internet companies' licenses within a month, but in December it was announced that proposals were still being considered and that consulting proposals, such as GrantThornton's, had been ordered. So basically the issue is still pending, without very important details being clarified yet. Nevertheless, there are indications and belief that perhaps the Greek State this time takes the issue more seriously.
source: espressonews
More specifically, the American company GrantThornton handed over the report, ordered by the Greek government, which concerns proposals regarding the renewal of the structure and the framework of operation of the online gambling companies in Greece.
According to the GrantThornton report, Greece must offer two types of licenses: one license exclusively for sports betting and another license for all other types of gambling (casino, poker, etc.). At the same time, it is suggested to the government not to set a numerical limit of licenses, as this can create problems. Licensing restrictions have been in place in Germany for example in recent years, leading to many reactions and legal disputes, both at national and European Union level.
Licenses should be offered, under the supervision of the Gaming Supervision and Control Committee (GSC), for a period of seven years. The interested companies will have to pay an advance of 500.000 euros, as well as 50.000 euros per year. At the same time, the licensed companies must offer their internet services from Greek websites, ending in .gr and maintain servers in Greece, as is already the case.
On the issue of taxation, which seems to generate the most reactions and debate, GrantThornton proposes to the Greek government a single tax rate of 35% for all companies, regardless of the license they choose. This high percentage is expected to significantly reduce the interest of companies that would like to obtain an operating license in Greece, a fact that in itself seems to deal effectively with the issue of imposing a limit on the number of licenses.
If its suggestions are accepted by the Greek government, Grant Thornton, known for its other exhibitions in Greece, believes that the online gambling sector in Greece will show an annual growth of 7%, which will result in net profits. of € 1,3 billion for the State over the next 12 years.
At the same time, the Greek State requests from the English interests company GVCHoldings, the amount of 187 million euros for the activity of Sportingbet, which belongs to GVCHoldings in the period 2010-2011. At that time Sportingbet had not yet been acquired by GVCHoldings. Today, the owner company states that this debt is many times more than the real one. As the English company does not want to create a problem with the operation of its platform in Greece and may face a problem of new licensing, it has entered into a financial settlement with the Ministry of Finance, for the payment of 7,8 million euros per month for the next 24 months, while it is certain how to go to court, disputing much of this debt. Sportingbet Casino is one of the most popular online casinos in Greece in recent years, having a legal license, under the control of EEEP. The company offers important offers, many games and exemplary customer service. You can read more information in this review of Sportingbet Casino.
Our country has been in a process of continuous restructuring of the online gambling market for about a decade, without yet finding a stable and effective solution. The result is that the regime changes every three or so, creating market disruption and ongoing problems, both for companies wishing to be licensed and for players who see companies constantly entering and exiting the Greek market.
The Treasury Department's goal last September was to resolve the issue of internet companies' licenses within a month, but in December it was announced that proposals were still being considered and that consulting proposals, such as GrantThornton's, had been ordered. So basically the issue is still pending, without very important details being clarified yet. Nevertheless, there are indications and belief that perhaps the Greek State this time takes the issue more seriously.
source: espressonews
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