Spain's Covid recovery taxes to impact land-based operators

In the wake of the current global situation, Spain raises taxes on large companies and wealthy people as part of Covid-19 recovery plan

In the draft to the 2021 budget, the Spanish government yesterday announced plans to increase taxes on corporations and the wealthy to be able to rebuild its economy and its health infrastructures. It also called for the implementing of a 'Google' tax on revenues booked in the country by tech giants. 

Along with Italy, Spain suffered one of the worst hits this year due to the pandemic, so much so that it is to receive €140 billion in grants and loans from the rescue plan in the upcoming five years. 

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Spain is also considered one of the most regulated online casino markets in Europe, recently launching new laws to govern the gambling industry. The casinos closed along with many other establishments, but then reopened in September resuming to the normality of their lives pre-Covid. Seeing as the situation seems to be getting worse, it wouldn't be a surprise if the government decides to close the land-based operators once again. 

Currently, operators are taxed at around 25%, and it is certain that this tax plan will affect the already-hit land-based gaming market there. 

About SiGMA's revamped website:

SiGMA Group is excited to announce the launch of its newly revamped website. The website is currently available in 5 languages, English, Russian, Mandarin, Portuguese, and Spanish with plans to add another 5 languages over the coming months - namely French, Thai, Korean, Japanese, and Hindi.

 

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