Portugal's 66% Tax

[Pokerface]

We all know taxes are inevitable and often too high however Betclic in Portugal report that the Portuguese government has claimed 66% in taxes of their revenue. This leaves very little for operating costs and profit. Hardly worth the effort to be in the Portuguese market with those tax rates.

Read more here: https://calvinayre.com/2017/06/28/bu...bling-revenue/

[PROFRBcom]

66%? Holy ****! It's simply not realistic to tax a business 66% and expect them to put forth an effort. Their talents are being wasted in this market. That just goes to show you however, what happens when a government is desperate for revenues. They will tax, tax, and tax some more! Ultimately, it just drives businesses and their talent into other, more favorable jurisdictions.

[RacingJim]

66%? Holy ****! It's simply not realistic to tax a business 66% and expect them to put forth an effort. Their talents are being wasted in this market. That just goes to show you however, what happens when a government is desperate for revenues. They will tax, tax, and tax some more! Ultimately, it just drives businesses and their talent into other, more favorable jurisdictions.

This is what Corbyn and his loons would probably do if he got in.

[good4bonus]

not 66%
in portugal, the % tax it depends in some things

Law66/2015

Article 89
Special tax on online gambling in games of chance
1 - In games of chance, IEJO focuses on the gross revenue of the exploring entity.
2 - The rate of the IEJO in games of fortune or chance is 15 / prct ..
3 - Without prejudice to the provisions of the preceding paragraph, when the gross annual revenue of the exploring entity exceeds (euro) 5,000,000.00, the taxable amount is divided into two installments:
A) Up to the amount of (euro) 5 000 000,00, the rate of 15 / prct .;
(B) on the surplus, the rate shall be determined on the basis of the following formula:
Rate = [15 / prt. X (amount of annual gross revenue / (euro) 5 000 000,00)]
4 - The rate calculated under the terms of sub-paragraph b) of the previous number has a maximum limit of 30 / prct ..

Special tax on online sports betting odds
1 - In sports betting odds, the IEJO is charged on the proceeds of the bets placed.
2 - When the explorer collects a commission on the value of the bet, the IEJO also charges on that amount.
3 - The IEJO rate in the situations described in the previous numbers is 8 / prct ..
4 - Without prejudice to the provisions of the preceding paragraph, when the amount of bets placed with the explorer exceeds (euro) 30,000,000.00, the taxable amount is divided into two installments:
(A) up to the amount of (euro) 30 000 000.00, the rate of 8 / prct .;
(B) on the surplus, the rate shall be determined on the basis of the following formula:
Rate = [8 / prt. X (annual amount of bets placed / (euro) 30,000,000.00)]
5 - The rate calculated in accordance with sub-paragraph b) of the preceding paragraph has a maximum limit of 16 / prct ..

Article 91
Special tax on online gambling on horse racing bets
1 - In the mutual equestrian betting, the IEJO is focused on the gross revenue of the exploring entity.
2 - The IEJO rate on the bets referred to in the previous number is 15 / prct ..
3 - Without prejudice to the provisions of the preceding paragraph, when the gross annual revenue of the exploring entity exceeds (euro) 5,000,000.00, the taxable amount is divided into two installments:
A) Up to the amount of (euro) 5 000 000,00, the rate of 15 / prct .;
(B) on the surplus, the rate shall be determined on the basis of the following formula:
Rate = [15 / prt. X (amount of annual gross revenue / (euro) 5 000 000,00)]
4 - The rate calculated under the terms of sub-paragraph b) of the previous number has a maximum limit of 30 / prct ..
5 - In the equestrian betting quota, the IEJO is charged on the proceeds of the bets placed.
6 - The IEJO rate on the bets referred to in the previous number is 8 / prct ..
7 - Without prejudice to the provisions of the preceding paragraph, when the amount of bets placed with the explorer exceeds (euro) 30,000,000.00, the taxable amount is divided into two installments:
(A) up to the amount of (euro) 30 000 000.00, the rate of 8 / prct .;
(B) on the surplus, the rate shall be determined on the basis of the following formula:
Rate = [8 / prt. X (annual amount of bets placed / (euro) 30,000,000.00)]
8 - The rate calculated in terms of letter b) of the previous number has a maximum limit of 16 / prct ..

yes already was delivered a petition coz of do some changes, like put an "overall tax of 30% of the gross revenue" instead of different taxes for different kinds of gambling
but still will be discussed

[gamblingtec]

How on earth do you run a business like that? It baffles my mind why regulators think gambling entities are these special money trees... in reality they are hard businesses to run made harder by bean counters in suits who have never done a real days work.

[good4bonus]

i forgot to say in previous post
IEJO, in english means "GAMING SPECIAL TAX"

[good4bonus]

How on earth do you run a business like that? It baffles my mind why regulators think gambling entities are these special money trees... in reality they are hard businesses to run made harder by bean counters in suits who have never done a real days work.

really "too hard businesses" specially if they do not have a license and ask you to solve the problem no?

[gamblingtec]

It defies logic.

We solve problems in most instances for techies who want to write games and deploy these games to third parties. In the past these are the small startups trying to survive in an ever growing and overreaching environment run by people who have never been in the position to take a creative idea to market.

My opinion of course.

[Miles_Videoslots]

Anything over 50% is just pure highway robbery but governments know that they can turn the screws due to the nature of our business

[gamblingtec]

This, in my opinion, would be a classic case where stupid laws will be cause for people to find loopholes. When a structure is fair and just, people just go about with their business...