EU Mulls Gambling Levy That Could Add to EUR $15.49B in Fresh Revenue
The European Commission is considering a tax on the gambling industry that could generate up to EUR 13.3 billion over seven years.Summary
The European Union is exploring a new tax on the gambling industry as a means to bolster its budget amid geopolitical uncertainty and financial strain. The European Commission is reportedly drafting a plan that could impose a 3% tax on online gambling, potentially raising EUR 1.9 billion annually, alongside a 0.1% tax on crypto transactions, which could bring in EUR 3 billion to EUR 4 billion per year. This proposal is part of a broader strategy to tax digital and crypto firms, similar to measures recently implemented in the United Kingdom. However, the plan faces potential opposition from skittish European governments and could provoke a backlash from US tech firms, which might challenge the measure through diplomatic channels. The success of the proposal hinges on the EU's ability to demonstrate political strength to pass the tax hikes.
(Source：Gamblingnews)