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Italy’s new Tax Plans on Gamblers Winnings

Italy’s new Tax Plans on Gamblers Winnings

Italy's new Tax Plans on Gamblers’ Winnings

Last week, the Italian media have announced that in the Italian Goverment’s fiscal budget for 2020 is including a tax rise on large lottery jackpots from 12% to 23%.

Gamblers’ winnings under €500 will be taxed with 12%. The new tax regime will be applied to all kinds of gambling, from lotteries to sports bets. A variable rate will be escalated along with the value of winnings. The Italian gaming operators are struggling for impact after the proposed further tax increases. 

Laura Castelli, Deputy Minister for the Economy, said last week that the government’s “virtuous” fight against gambling would continue to “move forward, not backwards.”

Giorgio Pastorino, President of local gaming industry association STS, claimed that the plan would benefit only large banks and financial institution.

Pastorino characterized Castelli’s comments as “a lack of competence on the subject.” and wondered if Castelli thought if a punter would be interested in using a card to play a €1 game or make a small wager, while also claiming that operators would be unwilling to accept a card for such a low amount, considering the percentage of each payment stated by the card issuer.

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