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France lowers tax on horserace betting

25th October 2010 9:26 am GMT

The French National Assembly has taken a decision to lower the tax on horserace betting, reducing the levy from 5.7 per cent to 4.6 per cent.

The amendment was adopted as part of the Finance Act 2011 and will be applied retrospectively from August 3rd 2010.

The decision follows objections from the EU to an 8 per cent levy that the government wanted to introduce as part of the liberalisation of the online gaming market, a levy [...]

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