Portuguese government rows back from flat gambling tax rate
News on 19 Oct 2018
News on 19 Oct 2018
Another week and another about turn on tax proposals by the Portuguese financial authorities; last week there was hope that a more reasonable flat tax rate across online gambling revenue would be introduced in the budget proposals (see previous report)…this week it has apparently been dropped from the documentation submitted to parliament by the Finance Ministry.
Parliamentarians will debate the proposed budget from October 30 and vote on the final content late November…but there are no online gambling tax amendment provisions within the proposals, and it is unclear whether at this stage a late amendment could even be made.
With a general election due next year, politicians are likely to be more focused on keeping their seats through popular budgetary decisions, and it appears that easing the burden of Portugal’s eight gambling licensees is not among those priorities.
News on 19 Oct 2018
Another week and another about turn on tax proposals by the Portuguese financial authorities; last week there was hope that a more reasonable flat tax rate across online gambling revenue would be introduced in the budget proposals (see previous report)…this week it has apparently been dropped from the documentation submitted to parliament by the Finance Ministry.
Parliamentarians will debate the proposed budget from October 30 and vote on the final content late November…but there are no online gambling tax amendment provisions within the proposals, and it is unclear whether at this stage a late amendment could even be made.
With a general election due next year, politicians are likely to be more focused on keeping their seats through popular budgetary decisions, and it appears that easing the burden of Portugal’s eight gambling licensees is not among those priorities.
