Spanish Government Approves Draft On Gaming Regulations

SPANISH GOVERNMENT APPROVES DRAFT ON GAMING REGULATIONS

04th February, 2011 at 22:38:09
Source: http://www.azonlinecasinos.com

No further clarification on proposed tax regime

The Spanish Government's Council of Ministers has approved the draft bill on new gaming regulations and has committed to submitting the bill to Parliament within the next few weeks.

The Bill will regulate, for the first time, Internet gambling on casino games, poker, sports and other forms of gaming although they will exclude the lottery, and define the various gaming activities and requirements to be met.

Prior authorisation or licensing of gaming operators will come into force and as such the Act makes provision for the formation of a regulatory body within the State Administration Services, the Spanish Gaming Commission [Comisión del Juego], which will be responsible for monitoring operator compliance, issuing of licenses and other related functions including granting prior permission for advertising, promotional and sponsorship activities carried out by authorised or licensed operators.

It is still unclear at this stage what model the various gaming activities will be taxed at however, all revenue collected will be given to the autonomous regions.

The First Vice-President of the Government confirmed that online gaming "is undertaken regularly and not subject to taxation but, once it is regulated, the corresponding taxes and duties will be established".

Transgressions of the Act and unauthorised operators will be dealt with by hefty fines ranging from Euro 100,000 to Euro 50,000,000.

If the bill passes through Parliament, it will progress to the Senate and then to the European Commission, although industry pundits don't expect the bill to reach the commission until June or July 2011.

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