Portugal Gambling Tax
GamblingCompliance Regulatory Briefing: Portugal’s New Online Gambling Law
With the participation of thePortuguese Gambling Regulator – SRIJ (speaker TBC)
An in-depth look at the country’s new gambling regulation and what it means for the industry
GamblingCompliance Regulatory Briefing: Portugal’s New Online Gambling Law With the participation of the Portuguese Gambling Regulator – SRIJ (speaker TBC)An in-depth look at the country’s new gambling regulation and what it means for the industry14th October 2015, Hotel Myriad, Lisbon, PortugalThe final requirements needed to start the online licensing procedure in Portugal. With the exception of lotteries which have taxes withheld at the source, winnings from gambling are not taxed. International gambling companies are subject to a high tax rate which has caused several operators to leave the Portuguese gambling market. What Currency and Payment Methods do Portuguese Players Generally Use? Portugal Ordered to Legalize Online Gambling this Month Troika wants no more delays in tax revenue-raising online gaming regulation. The time is up for Portuguese delays on online gaming laws: the Troika has ordered the government to get legislation in place by the end of the month. As a result, applying for a Portuguese license is much less attractive for online gambling companies based elsewhere in the EU: for instance, only one EGBA member has a license in Portugal, while many more are very interested to obtain a license there if the tax regime becomes non-discriminatory and better suited to the online gambling environment. Portugal has legalized all the drugs, and the situation seems to be working in favour of the Portuguese in that respect. However, it’s not all well with the legalization of gambling in the country. It is legal, but right now the government is planning to introduce a tax that may just kill the industry or jumpstart it, Calvin Ayre reports.
14th October 2015, Hotel Myriad, Lisbon, Portugal
The final requirements needed to start the online licensing procedure in Portugal were published in June 2015 by the state regulator, Turismo de Portugal. This new legislation requires all online operators and testing labs to obtain licences in 4 different fields:
- fixed odds sports betting
- horse race betting
- bingo
- games of chance, including casino games and poker.
However, the newly established Portuguese Gambling Inspection Service hopes to issue the first online licences by the end of the year, creating a gap of six months where operators cannot hold a permit, but could be considered illegal. This leaves overseas companies with something of a dilemma – switch off operations for around six months or potentially risk being denied a licence.
This GamblingCompliance Regulatory Briefing will:
- Look at the implications of this new legislation for the Portuguese gambling industry.
- Draw on the lessons learned from other jurisdictions where similar legislation was introduced.
- Provide operators with an opportunity to engage with the regulator, and also key experts in the Portuguese gambling industry.
- Delve into the regulation from a tax, advertising and licensing perspective to ensure that every implication is covered.
Taking place at The Crystal Centre in the Myriad Hotel in central Lisbon on the banks of the Tagus River this one-day conference will give all attendees a broad overview of the current regulation in Portugal as well as networking opportunities during the coffee breaks, lunch and drinks reception.
Who should attend?
- C-Suite executives operating in (or considering operating in) the Portuguese gambling market
- In-House Counsels
- Heads of Compliance
- Heads of Risk
- Legal Professionals
- Regulators
Pricing:
Portugal Online Gambling Tax
- Early Bird - £295 (until September 30th)
- Standard Rate - £395 (until October 9th)
- On-site Rate - £495 (after October 9th)