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18% Tax For Sweden Gamers

The rules and regulations with regard to online gaming and gambling around the world are always changing and here’s yet another development from the online gaming space. As per reports from last week, 18% tax will be levied on GGR (Gross Gaming Revenue) in Sweden.

Late last year, the Swedish government presented a proposed legislation to the European Commission with regards to this matter and EU authorities would take three months (ending 20th march 2018) to review it. We will now highlight some of the key details from this proposal.

“Online gambling and land-based betting license will be valid for a five year period. Bonuses will only be allowed the first time the player uses an operator’s products,” said Mark Knighton, Founder and CEO of Obsidian Consultancy. This was contrary to the original report’s proposal of having retention bonuses with restrictions.

Also, on instructions from the Swedish Gambling Authority, payment providers could be asked to block payments from unlicensed gambling operators. The SGA may request ISP providers to display warning messages to players if any particular website is not licensed in Sweden. 

Licensed gaming operators will have to take necessary measures to prevent and reduce problem gambling, along with it becoming mandatory for players to set deposit limits. Statistics indicate that unlicensed operators generated revenue of around SEK 4 billion (~INR 3223 crore) during the period in question, while the country’s whole gambling market was worth around SEK 16.5 billion (~INR 13,300 crore).

”The Central Government will regain control of the Swedish gambling market. We are now proposing legislation entailing that operators receiving a licence to conduct activities targeting Swedish consumers must comply with Swedish rules,” said Ardalan Shekarabi, Minister for Public Administration.

Land-based betting and online gambling licenses will be given out with 5-year validities. It has also been proposed that these new regulations spoken about above will come into force on 1 January 2019, while license applications will be accepted from July 2018 onwards.

For full updates on this story, keep reading GutshotMagazine.com!

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