Excessive Taxation Consequences

05/08/2011
By Tommie ClarkGoogle

 

AEDAPI, the Spanish Gambling Trade Association, announced warnings and consequences of excessive taxation.  AEDAPI explains that although the passing of the gambling reform bill by the Congress of Deputies is an exciting forefront, the excessive taxation on winnings may cause serious consequences.

 

With the passage of the bill, the AEDAPI explains the while the new regulation reveals opportunities for new business developers and the country as a whole to benefit from, the 25 percent tax rate of net income is too steep.

 

This tax percentage is said to be one of the highest in Europe and that those looking to profit from the bill will face tremendous obstacles in order to reach their goals because of the tax rate.

 

The AEDAPI exhibits that its Congress through independent studies that have proven that extreme tax rates will lead to a reduction in tax collectibles.  The Association explains that one a tipping point is reached, the tax rate will no longer be beneficial and the current 25 percent rate will lead to that tipping point very quickly.

 

This new legislation could have a serious impact on online gamblers playing from Spain and it will be interesting to see how online casinos amp up their marketing strategies accordingly.  It will also be interesting to see the ripple effects throughout Europe and to see if other countries will adopt a similar taxation on winnings. 

 

We’ll stay tuned to keep you in the loop – even if you’re not from Spain, this type of news is interesting to gamblers worldwide!

 

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