In a bid to attract more Gambling companies to the Spanish Market, Spain’s Congress of Deputies, the Lower house of Spain is mulling to lower the Gambling tax by 20%.
This proposal however, is still in the early stage and might take some more time to enforce this as it still requires discussion and debate in the Spain Parliament.
The data released in the mid of February this year show that the Gambling industry has seen a growth of 38% in the corresponding year. As per industry experts, the gambling industry is poised to hit $1.22B by 2023.No wonder Spain has reposed faith in the Gambling industry and is seriously considering it as one of the important sectors to generate more revenue.
The cutting of tax could attract new players to the industry and can help generate more revenue to the government.