The Italian Ministry of Finance (MEF) is about to implement a significant change to the nation’s iGaming laws, which is a significant move. The upcoming legislation is the first thorough examination of Italy’s online gambling regulations since they were initially introduced in 2011.
Revamping Italy’s iGaming Framework
The MEF is pushing for a thorough revision of Italy’s iGaming laws in order to bring about significant adjustments for gaming companies wishing to conduct business there. The proposed regulation changes address a number of industry-related issues.
A major rise in license costs is one of the MEF’s main recommendations. It has been decided that the concessions offered now are too cheap, thus the ministry has suggested that the price be increased to €7 million, or about $7.4 million. The MEF plans to limit the number of licenses that any operator may have in order to prevent any one party from controlling the market.
The taxes of Italian online gambling businesses is unaffected by these revisions. Nonetheless, they provide the government more freedom in overseeing the sector by allowing it to offer specific concessions with a 2% yearly adjustment charge.
The MEF is not limited to financial considerations. It is also eager to create a Public Gambling Council, whose job it will be to constantly assess the state of the industry and recommend appropriate measures when they become necessary. The establishment of this council is a component of a larger plan to handle problems like unauthorized websites that now significantly affect the industry.
The MEF has also stated that it is resolute in its efforts to stop the illegal online gaming business. It requests collaboration from several government departments in the joint effort to combat unlawful gambling, which has emerged as a critical issue in Italy, especially in the aftermath of a gambling scandal involving well-known Italian soccer stars.
These suggested amendments would represent a substantial departure from Italy’s current iGaming regulatory framework and might help to create a more regulated and transparent online gaming environment there.
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