- Flexi Group
This month, Italy will hike betting taxes
Italy's new sports betting legislative decree, which includes a tax increase but no new tax on turnover, is expected to take effect on October 28 after being published in the country's official gazette.
Retail betting revenue in Italy was taxed at 18%, while online betting revenue was taxed at 22% under the former sports betting law. However, under these new laws, the tax on retail betting revenue has been raised to 20%, while online betting revenue will be taxed at 24%.
Previously, Italy contemplated imposing an additional 1% turnover tax, but this plan was abandoned.
The bill will also mandate a €1 minimum bet, with profits on fixed-odds bets capped at €50,000.
These new rules will go into effect on October 28, 30 days after they are published in the Official Gazette. They will cover all fixed-odds bets on non-horse racing events, including non-sporting events approved by the Italian Customers and Monopoly Agency.
The adoption of a blanket marketing ban in Italy in 2019 has had a significant influence on sports betting in recent years. This restriction, known as the "dignity edict," has been contested not only by the betting and gambling industry, but also by domestic football bodies, which have lost sponsorship revenue when arrangements have had to be terminated.
By fLEXI tEAM