Portugal’s Gambling Industry in the News — Weekly Round-up for October 26, 2018

Portuguese Government Rows Back From Flat Gambling Tax Rate (Update)

25 percent flat rate not included in budget proposals

Another week and another about turn on tax proposals by the Portuguese financial authorities; last week there was hope that a more reasonable flat tax rate across online gambling revenue would be introduced in the budget proposals (see previous InfoPowa report)…this week it has apparently been dropped from the documentation submitted to parliament by the Finance Ministry.

Parliamentarians will debate the proposed budget from October 30 and vote on the final content late November… but there are no online gambling tax amendment provisions within the proposals, and it is unclear whether at this stage a late amendment could even be made.

With a general election due next year, politicians are likely to be more focused on keeping their seats through popular budgetary decisions, and it appears that easing the burden of Portugal’s eight gambling licensees is not among those priorities.

Luckia Secures Portuguese Online Licensing

Online company becomes the ninth to brave Portugal’s ferocious tax regime

Spanish online sports betting and casino operator Luckia Gaming Group has been awarded licensing by the Serviço Regulação e Inspeção de Jogos do Turismo de Portugal (SRIJ) regulatory body, bringing the number of companies now licensed in the tax-unfriendly jurisdiction to nine, with 15 licenses in issue.

Luckia has not yet launched its newly licensed operation, planned for Luckia.pt.

Emulating other online gambling execs, Luckia president José González Fuentes has in the past opined that Portuguese tax rates are very high, making the pursuit of reasonable profit more difficult.