ECONOMY

Suspension of gaming tax clause

The Finance Ministry intends to go ahead with an annulment of the clauses introduced by the previous government regarding the taxation of winnings from games of chance. In a statement issued yesterday, the ministry dubs legislation concerning earnings from lotteries and other games of chance as «problematic,» and stresses that it will swiftly submit to Parliament a regulation for the cancellation of the validity of those clauses regarding the tax-free ceiling so as to «ease the malfunctions they have created.» The ministry added that it will immediately begin consultation in order to find a rational and fair solution for the taxation of those earnings. The law voted in by the previous government earlier this year provides for taxing earnings from games of chance without a tax-free limit. It applies a 10 percent flat rate on all winnings, a clause that had met with strong opposition from games agents that operate for state company OPAP. The law was to have entered into force on October 21.