BUSINESS

Gov’t abolishes 5-cent charge per betting game

TAGS: Taxation

The Finance Ministry has decided to abolish the levy of 5 cents per entry in games of chance organized by Greek betting firm OPAP.

Instead of the controversial levy, the new tax bill provides for an increase in the tax on gaming company net revenues from 30 to 35 percent.

The draft legislation dictates that this new form of taxation concerns all games of chance in Greece, thereby including not only OPAP games but also the various lotteries, casinos and gaming companies with a temporary license to operate via the Internet.

This change in taxation constitutes a victory for OPAP, which had long argued against the 5-cent levy.

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