The Greek government—which has to raise an additional 1.5 billion euros in taxes under European Union obligations—has approved a 35 percent tax on online gambling revenue in the country.
Loan sanctions imposed by the EU require Greece to meet a surplus of 3.5 percent of its national budget and to raise an additional €1.5 billion in taxes.
The country had a scalable 30 to 35 percent online gambling tax, but now the rate will be fixed at the high end of the scale.
The move effects all of Greece’s 24 licensed international online gambling operators as well as state-owned gambling operator OPAP in order fulfill EU fair competition practices.
The government expects to raise about €54 million from online gambling duties. Other business sectors to be hit with new tax hikes include heating oil, automotive, e-cigarettes, pay-TV, coffee, luxury goods, and alcohol.
