Italy recently approved a temporary new tax on all sports betting verticals in a bid to raise €90m to fund a “revitalisation of sports”. It was included in a package of fiscal measures designed to support the country in its recovery from the Covid-19 pandemic.
But operators has questioned how the ADM calculates turnover for deciding the tax and said that the tax increases “have made it impossible to sustain the business”.
On the other hand, the undersecretary for agriculture, Giuseppe L’Abbate, has warned that the horseracing sector is already underfunded and called on Marcello Minenna, the new Director-General of Italy’s customs and monopolies agency, ADM, to exclude the sport from the tax hike or whether betting on horseracing must pay the country’s new 0.5 per cent turnover tax .
ADM is willing replace the temporary sports betting turnover levy with an equivalent GGR tax rate for exchanges.
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