Online Poker News - Online Poker Operators to Pay Back Taxes in Spain
24th of May 2012 - latestpokerbonuses.com
Spain prepares to gain control of the gambling industry ahead of schedule and in doing so, online poker sites have been dealt a bad hand. The Spanish authorities are now penalizing them further if they seek industry licenses because they will be required to pay taxes back from their active operations in Spain. There wasn’t a legal requirement at the time so this has come as a surprise.
Millions could be filling the pockets of the Spanish gambling authority after a recent announcement leaving groups such as Bwin and 888 required to pay taxes from January 2009 through May 2011.
Operators were given the details last month and have since spent weeks in negotiations. It is clear from these last minute legalities that Spain is looking to cash in on the gambling industry to boost a downtrodden economy.
The Spanish government has not confirmed that neglecting to pay these back taxes would affect online poker sites from obtaining a license but it was certainly implied. A grand total of approximately 60 companies have submitted applications for licenses to operate online poker in the Spanish market.
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