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Spain drops gaming turnover tax

9th February 2011 9:47 am GMT

The Spanish government has revised the draft gaming bill which it has submitted to Parliament, dropping plans to impose a turnover based tax following widespread opposition from industry stakeholders.

In the version submitted to Parliament, the initially proposed  25 per cent turnover tax has been replaced with one based on gross and net income, with a 25 per cent tax rate applicable on net income from most forms of betting with the exception of pari-mutuel horse [...]

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