Portugal online gaming bill signed into law

[The Buzz]

The bill was signed into law last week by President Anibal António Cavaco Silva, and the reforms are set to take effect on June 28.

Read more from Casino.org: http://www.casino.org/news/portugal-...igned-into-law

[Renee]

So its only sportsbetting?

[Pmig]

No Renee, It will be open also to poker, exchange/trading, bingo and casino (slots included). Also be open to other forms of gambling on request.

[sweetbet]

A definite step in the right direction

[gyaloggalopp]

A definite step in the right direction

Is it? Seems like an act where the government seemingly pushes free competition but ring fences their own company and creates a monopol situation with irrealistic conditions for foreign comapnies. Just like my (Hungarian) government did last year.

[Renee]

No Renee, It will be open also to poker, exchange/trading, bingo and casino (slots included). Also be open to other forms of gambling on request.

Thanks. So it's just a bad article then. And nowhere does it list the tax percentages.
I'll have to do more looking to find the info.

[Pmig]

Renee, go to one of my sites http://maisapostas.com/lei-das-apost...-a-28-de-junho and you have a tiny summary of taxes (use google translate because is on portuguese), on that page you have also a link to the full bill (law), the full taxes are at the end of that.

[Renee]

Thanks. So 30% tax on casino. This will likely mean no operators get the license. This is even more than Italy.

[ocreditor]

Thanks. So 30% tax on casino. This will likely mean no operators get the license. This is even more than Italy.

Wow 30% tax is very high indeed... PT want to keep the online activity inside their country and it means many brands will go out
of PT

[Pmig]

Is up to 30%..

Up to 5.000.000,00€ gross you pay 15%, upper than that there this formula will apply: [15% x (Anual gross profit/5.000.000,00)], up to 30% limit.

[ocreditor]

Is up to 30%..

Up to 5.000.000,00€ gross you pay 15%, upper than that there this formula will apply: [15% x (Anual gross profit/5.000.000,00)], up to 30% limit.

15% is much more reasonable, for small brand this is crucial

[NoWageringCasino]

Glad to see some reforms happening in Portugal.

[academia]

The article does not have much info about the regulation.

For poker and trading, 15% tax on the fee.
Casino, Bingo 15% to 30%. 15% when Gross Revenue less that 5.000.000€ then can go up to 30%
Sports Betting, tax on volume, 8% to 16%

[academia]

You can check some other info on the Portuguese Players Association site: http://www.anao.pt/faqs-perguntas-e-...postas-online/