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Portugal plans to impose 25% tax rate for online gambling

Published

7 years ago

October 18, 2018

Niji Narayan

Portugal plans to impose 25% tax rate for online gambling

Photo Source: handluggageonly.co.uk

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Portugal’s government is planning to fix a new flat tax rate of 25% for all types of online gambling operators. The country currently follows a sliding scale taxation regime. That means the gambling companies currently have to pay tax at rates, which vary based on how much revenue they post and the type of gambling services they offer.

For example, companies operating online poker and casino games will have to pay a tax between 15% and 30%, while betting companies have to pay a tax between 8% and 16% on sports betting revenue. However, the proposals for the new Special Online Gambling Tax (IEJO), which is likely to come into force next year, are for implementing a 25% flat rate.

The new rate would replace the existing tax systems and represent a significant increase for operators offering online sports betting and enable the state to take more revenue from such activities.

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Niji Narayan

Niji Narayan has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. He reports gaming industry headlines from all around the globe.