Tag Archives: Revival Decree’

Italy’s fiscal ministries ponder 1% betting turnover tax charge 

SBC News Italy’s fiscal ministries ponder 1% betting turnover tax charge 

To the dismay of Italian bookmakers, Valentina Vezzali, Undersecretary for Sports, has secured a debate on the introduction of a fixed 1% tax on betting turnover. The Sports Minister is reported to have held a meeting with Italy’s fiscal ministries to examine a further tax rise on betting incumbents. In attendance were representatives of Italy’s Treasury and gambling regulator ADM …

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Betfair hit by poor judgement on Italian turnover tax

SBC News Betfair hit by poor judgement on Italian turnover tax

Betfair has been provided bleak options by Italy’s ADM customs and monopolies agency as to how it should calculate Italy’s temporary turnover tax on its ‘Exchange’ betting product. Last summer, the Italian government imposed a 0.5% turnover tax across all sports wagering verticals (retail, digital and virtual sports) – a year-long measure approved as part of Italy’s ‘Covid Revival Decree’. The decision …

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Kindred withdraws 32Red from Italian market

SBC News Kindred withdraws 32Red from Italian market

Kindred Group Plc has moved to consolidate its Italian market presence under its flagship Unibet sportsbook brand. The decision sees the Stockholm-listed operator retire its 32Red (32Red.it) subsidiary from the Italian market. 32Red had maintained an Italian sportsbook presence since 2012, prior to the firm’s £175 takeover by Kindred Plc in 2017, a strategic acquisition primarily undertaken to significantly boost …

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Italian nightmare continues as MPs approve new turnover tax

SBC News Italian nightmare continues as MPs approve new turnover tax

To the dismay of licensed incumbents, Italy’s parliament has approved the introduction of an emergency ‘turnover tax’ on betting and virtual sports wagers. The publishing of last week’s state gazette confirmed that MPs had backed amendments introducing a new ‘temporary’ 0.5% turnover tax across all betting-related verticals – online, retail and virtual sports content. The turnover tax is introduced as …

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AgiproNews Italian View – Who can save la ippica?

SBC News AgiproNews Italian View – Who can save la ippica?

Italian business waits for parliament to publish its ‘Revival Decree’ outlining the terms and conditions attached to sector-specific rescue packages sanctioned by the government. Having handled the epicentre of Europe’s coronavirus outbreak, Italy enters ‘phase two’ of its lockdown procedure allowing bars, restaurants and further commercial properties to reopen obeying social distancing orders. Meanwhile, in Rome, the Chamber of Deputies …

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Italian betting lambasts parliamentary debate on wagering tax

SBC News Italian betting lambasts parliamentary debate on wagering tax

Italian betting leadership has issued a response to parliamentary discussions on introducing a new 0.75% tax on betting and virtual sports wagers aimed at raising funds for ‘distressed Italian sports’. Italian Parliament continues to discuss the terms forming its ‘Revival Decree’ – a critical mandate which seeks to support the recovery of business and society from the long-term effects of COVID-19. …

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