In a bid to get the tax rates lowered on online gambling Portugal’s National Association of Online Gamblers (ANAon) has decided to file a petition with the parliament.
The petition aimed at persuading the government to reduce the current 30 % tax rate on local online licensed operators, with 4600 signature will be presented to the Assembly of the Republic and the Portuguese Finance Ministry.
Currently the online sports betting companies pay 8% on betting turnover and a 16% tax rate on the betting revenue in Portugal.
Based on the low number of gaming operators entering the Portuguese market ever since the current gambling legislation and taxation regime came in force since 2015 has failed, contended ANAon in the said petition.
The taxation model of the sports betting needs to be reviewed and changed so that the focus on the volume of bets placed is moved to the gross revenue of operators.
SRIJ, Portugal till date has issued only seven online gaming licences. Despite the low number there was a reported increase in revenue by 13.7% from US$30 million in Q4 2016 to US$35 million in Q1 2017