Bwin Exec's Spanish Regulatory Proposal

Published: Wednesday, July 23, 2008 Online-Casinos.com

BWIN EXEC PRESENTS SPANISH REGULATORY PROPOSAL

Spanish tax coffers could benefit by as much as $1.03 billion


Karin Klein, the Regulatory Affairs Director for European online gambling giant Bwin, presented regulatory suggestions for Spanish gambling to the recent Gaming Executive Summit in Madrid, emphasising that any new regulations should take into account the existing license and tax systems, the transparency of companies, security, responsible gaming policies and the introduction of an independent control body.

Presenting the Bwin proposal for discussion, Klein suggested that it would guarantee protection for the user, additional income for the state and a secure and consistent legal framework for operators, because it was devised with the European Union's present tax system in mind - taxation for games of chance calculated on a firm's gross incomes as an aggregate tax base, and associating the incomes of firms from EU member states to those obtained in Spain.

Klein gave an example, saying that online providers who were granted licensing in Spain and participated in the Spanish market should pay the gambling tax in Spain related to the income generated by users that live in the country. Tax rates must remain competitive in order to ensure that online gambling providers with a European licence remain attractive to the global market while also avoiding double taxation in the European Union.

Efficient regulatory and tax moves could deliver Spanish tax revenues of up to $1.03 billion from online gambling.

The Vienna listed Bwin group has been a major force in pushing for a properly regulated and integrity-driven online gambling industry and is a prominent member of the European Gaming and Betting Association (EGBA)