Greece Halts Gaming Tax Plans

Thursday 29 October, 2009 10:10

This SlideShowPro photo gallery requires the Flash Player plugin and a web browser with JavaScript enabled.

The Greek government has buckled to pressure from gaming groups who have objected strongly against plans to introduce a new tax on gaming winnings in the country.

The strongest opposition has come from sales agents working for OPAP, Greece's betting monopoly that provides millions in winnings each year.

This is not the first time that the introduction of the gaming tax has been suspended.

A law to demand 10% on winnings for all OPAP's games was passed by the former government in the summer.

The taxation system was due to kick in this week but was suspended by one month.

The newly elected Socialist government said that it would start talks to try and change some of the clauses that are raising the most opposition by interest groups.

A statement by the Greek Finance Ministry said: "The finance minster will as soon as possible submit to parliament an amendment to suspend the problematic clauses on the taxation of gaming winnings."

OPAP agents are demanding that the government scrap the idea of charging on gaming wins altogether, but authorities would not confirm that this would be case nor whether another solution to reach middle ground is being sought.

The money earned on gaming wins was meant to be channeled into state coffers in a bid to improve a growing deficit.

OPAP, a public company that is based in Athens, runs lottery and sports betting games in the Greek market and is considered the only group that is legally allowed to offer betting services in the country.

The group was founded in 1958 as a state owned company, and is now publicly listed on the Athens Stock Exchange. The government maintains a one third share of OPAP.

Featured Bonus

Currently in the News