Connect with us
SIS

Latest News

Belgian court overturns a law that imposed VAT on online gambling

Athira A

Published

on

Belgium gambling. Photo credits: https://www.google.co.in
Reading Time: 2 minutes

A Belgian court overturned a law that imposed value added tax (VAT) on online gambling in the country, owing to the challenges raised by several high-profile gaming operators.

Thus, the ruling by the Belgian Constitutional Court overturned the 2016 amendment introduced by the Belgian Finance Ministry that ended a VAT exemption for gaming operators.

Introduced on August 1st, 2016, this amendment called for  licensees to pay an additional 21 per cent tax on Belgian operations with the anticipations  to generate €75m per year  for the government.

This  triggered  legal challenges from a diverse range of companies, including European operators Kindred Group, Casinos Austria International, and PokerStars who were  were backed up  by local brands Carousel, betFIRST, and Casino Belgium, accompanied by  the government of Belgium’s French-speaking Walloon Region.

The operators emphasized  that with lotteries still exempt from paying VAT on activities, the move distorted competition in the market.

They also pointed out that despite creating additional tax revenue in the short-term, it could reduce gaming tax in the long-term. With escalated  costs making it more expensive, and less attractive, to operate in Belgium, it was creating a situation in which unlicensed operators could thrive, they said.

This argument was supported by the Walloon Government, which also argued that by removing the VAT exemption for gambling the federal government had encroached on the freedoms of the regional authorities.

The Constitutional Court accepted the arguments and scrapped the VAT provision for gaming companies.

However, it said, VAT paid on Belgian operations since August 2016 would not be reimbursed.

“Given the budgetary and administrative difficulties that would arise from the reimbursement of taxes already paid, it is therefore necessary to permanently maintain the effects of the provisions set aside,” the court explicated.

Kindred Group welcomed the court’s decision, saying that it highlighted the incompatibility of consumer protection and tax revenue objectives, especially when products and channels are taxed at different rates.

“For any gambling policy to succeed and with the ‘better offer one click away’, locally regulated online operators must be able to provide services of equivalent value to end consumers as services provided by competitors in the global digital world,” the operator said.

“Kindred remains a strong advocate of sustainable regulation based upon a borderless digital market and channelling consumer demand to licensed offerings. We look forward to working with national and international policy makers and regulators to ensure gaming policy is sustainable and fact based.”

SOURCE: GamingIntelligence

Athira is a self-described “logophile” – a lover of words. She loves updating her vocabulary and playing around with words, to frame a sensible world of letters. Letters come alive when they become words and when words become sentences. And that’s her job, to put them together in a meaningful way without loosing its essence. She has written content for websites, articles and poems for an international magazine, and press releases as well. She also loves writing on social media. She holds a Masters degree in bio-technology, but she has always been interested in the organic farming of words. Besides writing content for our daily news feed, she is also working as staff writer/editor with Impressions Content Management, based in Kerala, India, which offers writing and editing services to clients around the world.

Continue Reading
Advertisement
Comments

Latest News

Scorching slot-maker Fugaso makes London exhibition debut with pulsating portfolio.

George Miller

Published

on

Fugaso makes ICE debut
Reading Time: 2 minutes

 

Slick slots manufacturer Fugaso are making their first appearance at ICE on stand N9-162 announcing that they have come of age and have an HTML5 games catalogue stuffed with popular hits as well as featuring the new games that are capturing operators and players hearts and minds.

Fugaso, short for Future Gaming Solutions, is an independent slot studio brand with high-quality production of original and exciting gambling games that is making a name by becoming a partner of choice with a lot of top operators. During ICE 2019 Fugaso will be exhibiting a slots portfolio that has fun and engaging games such as Mr Toxicus, Power of Asia, Smoking Dogs, Cosa Nostra, Knockout, Book of Tattoo, Grand Sumo, Crazy Bot, Brave Mongoose, NRG Sound, Golden Shot, Mummy 2018: Block Pays and Jewel Sea, amongst others.

During ICE 2019 Fugaso will be launching the immersive Trump It Deluxe, a mighty 5-reel 15-payline fun satire on global politicians packed with rich features and engaging characters like the “Mr.Blond superstar”, “The little Rocket man” and Mr. “Pooty Poot”, amongst others! Trump It Deluxe puts players into the VIP world of wheeler-dealer politicians, where wins vary anywhere from x5 times up to a thrilling x2000 times. A Trumpish jester provides the Wild replacing other symbols in combinations. Trump It Deluxe also features Free Spins amid its multitude of funny characters, delivering high-octane excitement for players from this well-designed and sassy slot.

Other slots from Fugaso, the primary engine powering countless casinos and gaming sites worldwide with sizzling slots like Goblins Land and Horror Castle and capturing operator attention with revenue earners like Wild Rodeo, a slot adventure with the pioneers of old set in the Wild West. Players join the desperados and cowboys seeking out the American Dream by using Sticky Wilds, Free Spins and Re-Spins en route to a gold rush!

All Fugaso games are available in 12 languages, but can be adapted for any language, and every game supports cryptocurrencies. One of the key technologies deployed in Fugaso games is the highly innovative ‘Rich Free Spins’ feature, which combines the benefits of multiple free spins into one super-valuable free spin that ramps up the excitement with the prospect of potentially highly generous payouts. No other games manufacturer is currently offering ‘Rich Free Spins’, a unique and proprietary differentiator in Fugaso’s technology vault.

Niko Metzger, founder and CEO at Fugaso said: “At ICE 2019 Fugaso will be showing that we’re moving very rapidly towards state-of-the-art slots which have incredible characters, animations, soundbeds, storylines and gamble features that can be played on-the-go, anytime, anywhere. We’re excited to be exhibiting in the world’s biggest iGaming event and we look forward to talking with everyone in the industry about our ambition to be one of the world’s leading slots providers.”

To book a meeting email: info@Fugaso.com

 

ABOUT FUGASO:
Fugaso, short for Future Gaming Solutions, is an independent slot studio brand with high-quality production of original and exciting slots. Fugaso is a provider of superior online gaming solutions for iGaming operators. The business has been founded to deliver on the vision of becoming one of the world’s pre-eminent providers of slots and other HTML5 and VR games. Fugaso is rapidly becoming one of the industry’s most respected and acclaimed suppliers and currently provides gaming content to some of the world’s leading operators. Fugaso complies with the industry’s best practice on responsible gaming. All Fugaso games are developed for an adult audience of players, specifically focusing on experienced players that deeply understand the mechanics and features of slot games.
Visit Fugaso on stand N9-162 at ICE 2019.

Continue Reading

eSports

Mercedes-Benz and FC Köln buy stakes in SK Gaming

Niji Ng

Published

on

By

Mercedes-Benz and FC Köln buy stakes in SK Gaming
Photo Source: sk-gaming.com
Reading Time: 1 minute

 

FC Köln and Daimler AG (parent company of Mercedes-Benz) have bought substantial stakes in the German multigaming organisation SK Gaming. The companies reached an agreement with ESforce, who will sell 67 per cent of its stake in SK Gaming.. According to the deal, Mercedes-Benz will appear on the front of SK Gaming’s jerseys and FC Köln will have its #effzeh branding present on the sleeves.

ESforce acquired the stake in SK Gaming in September 2016, the team has recently stepped up its involvement in League of Legends as it became one of the new teams to join the franchised League of Legends European Championship (LEC). A move which undoubtedly made the organisation more attractive to investors. ESforce stated that this sale will allow them to focus on its other organisation Virtus.pro.

In a statement, ESforce said: “We are glad to have reached a deal with Daimler AG and FC Koeln. Such a major acquisition deal on the esports market is a showcase of not only our partners’ sincere motivation to contribute to the development of global esports but also SK Gaming’s remarkable performance throughout the years, which has made this brand one of the most well-recognised and beloved by esports fans around the world.

FC Köln has an existing partnership with SK Gaming which began in early 2018.

ESforce went on to add: “As the leading esports holding and one of the key market players worldwide, we strive to keep pace with the development of the global esports industry and act in accordance with all international regulations, among which the World Esports Association’s multiple team ownership rules. Together with other global esports organisations, we will continue to support and bolster esports as well as adhere to highest international standards.”

 

Continue Reading

Latest News

Swedish football association falters to control betting markets

Niji Ng

Published

on

By

Swedish football association falters to control betting markets
Photo Source: brila.net
Reading Time: 1 minute

 

The efforts of Sweden’s football governing body Svenska Fotbollförbundets (Svff) control the betting markets could falter at the legal intervention.

The Administrative Court of Appeal has rejected the leave for appeal a recent ruling and upheld the original verdict.

The original challenge, filed in December 2018, saw the Svff attempt to have the process to issue betting licences halted, to order Swedish gambling regulator Spelinspektionen to introduce new restrictions on the types of bets that companies could offer.

It argued that licensees should be blocked from offering odds on in-game events such as the number of yellow cards or corner kicks awarded in lower-division domestic football games. This, Svff claimed, would encourage match-fixing.

Spelinspektionen had argued against such a move, saying that as the country’s gambling regulatory authority it alone had the power to decide on licence restrictions. The Administrative Court, and subsequently Court of Appeals, shared the regulator’s view.

Continue Reading
Advertisement
NSoft

Global Gaming Industry Newsletter – Weekly Digest (sent every Wednesday)

Please select all the ways you would like to hear from European Gaming Media and Events:

You can unsubscribe at any time by clicking the link in the footer of our emails. For information about our privacy practices, please visit our website.

We use Mailchimp as our marketing platform. By clicking below to subscribe, you acknowledge that your information will be transferred to Mailchimp for processing. Learn more about Mailchimp's privacy practices here. Read more about European Gaming Media and Event's Privacy Policy and Terms of Service.

Subscribe to our News via Email

Enter your email address to subscribe to our news and receive notifications of new posts by email.

Latest by author

Trending

We are constantly showing banners about important news regarding events and product launches. Please turn AdBlock off in order to see these areas.