After starting the trend for countries to need bail outs from the European Central Bank, Greece rather unsurprisingly decided that online gambling was a piece of fruit that they liked the look of. Later this quarter many in the Greek hierarchy believed that they might get the legislation off the ground and have it well on the way to gaining them a load of tax dollars.
It’s the taxes that have caused the latest rumpus in relation to remote gambling regulation. The Remote Gambling Association (RGA) has sent comments to the Greek government professing their alarm at the proposed 6% turnover tax believing that it’s “simply not viable”.
The RGA does welcome the law, but has serious misgivings about the some aspects of the law and how they will be able to comply with EU law.
Chief Executive Clive Hawkswood said: “Only a gross profits taxation model will provide value for consumers, a reliable source of revenue for the government and a healthy competitive environment for the industry.”
We also reported that Greece plans to tender up to 50 licenses to operate in the country lasting a term of five years. The RGA also isn’t happy with this method and Hawkswood added that RGA didn’t think see this “as necessarily conducive to an attractive and competitive market.” He also fears that Greek customers will continue to use sites licensed in other jurisdictions.
Currently around one in three Greek citizens gambles at overseas gambling sites, something that RGA obviously believes may well continue even with regulation.