Marcello Minenna, the new Director-General of Italy’s ADM customs and monopolies agency, has been urged to exclude horseracing and licensed betting exchanges from a blanket 0.5% increase in turnover tax. The tax rise is set to be introduced across all retail, digital and virtual sports wagering verticals.
The increase follows this summer’s parliamentary approval of a set of fiscal measures adopting the ‘Revival Decree’, a federal mandate to support the recovery of Italian business and social services post COVID-19.
In a statement, operator group Flutter Entertainment said ‘tax increases have made it impossible to sustain the business’, adding it will be ‘compelled to remove its Betfair exchange from the market’ should the ADM maintain the temporary tax charges.
Minenna assured Italian racing that Sports Minister Vicenzo Spadafora will shortly clarify whether racing concessions must be included in the duty or not.
The UK Betting and Gaming Council has expressed its disappointment over Prime Minister Boris Johnson’s decisions to close betting shops, casinos and adult gaming centres in the Liverpool city region.
Reacting to the announcement, the council tweeted that there is no evidence that such venues contribute to the spread of COVID19.’
In a letter to the region’s MPs, council Chief Executive Michael Dugher said the closures will likely have a huge impact on employment and the survival of the affected businesses.
Neil McArthur, Chief Executive of the UK Gambling Commission, has urged the country’s finance industry to adopt a ‘multi-sector collaborative approach’ to tackle gambling-related harms, and to protect vulnerable customers.
Mcarthur’s comments are in anticipation of the forthcoming review of the 2005 Gambling Act, which will examine enhanced customer affordability checks.
The Commission has previously banned gambling with credit cards, finding evidence that it would reduce the risk of gambling harm to consumers, and the regulator believes there is always more that can be done.
That’s all for today, I’ll be back tomorrow for your next SBC News 90.