The Spanish Association of Internet Bettors (AEDAPI) has seen a new regulatory proposal for Spain that would see the nation collect $1.03 billion each year from online gaming.
At the recent Gaming Executive Summit in Madrid, Karin Klein, Regulatory Affairs Director for Bwin, stated that any new regulations should take into consideration the present license and tax systems, the transparency of companies, security, responsible gaming policies and the existence of an independent control body.
The annual Summit is one of the main international platforms for operators and regulators to debate issues in the gambling sector. At this year’s show, held from July 9 to 10, Klein exhibited a new regulation model that she claimed would guarantee protection for the user, additional income for the state and a secure legal framework for operators.
The system builds on the European Union’s present tax system for games of chance by using firm’s gross incomes as an aggregate tax base along with associating the incomes of firms from member states to those obtained in Spain.
'For example, online providers that were granted their license in Spain and participate in the Spanish market must pay the gambling tax in Spain related to the income generated by users that live in the country”, said Klein.
She stated that tax rates must remain competitive in order to ensure providers with a European license remain attractive to the global market while also avoiding double taxation in the European Union by having each member better organise their own tax systems.