Spain Clarifies iGaming Tax Laws On Players
The Spanish Government has submitted its new tax code and it explains how it’s going to tax players on gambling activities. Over the summer, the Spanish Government finalized their online gaming laws and it was determined that online gamblers will be taxed just on winnings.
The good news now is that the new tax code, which has just been approved taxes players on pure income and not on the gross amount. This means that essentially players will be taxed only on their winnings and can claim losses and expenses; and that poker players will now be able to deduct tournament fees and rake.
Furthermore, players will not have to pay taxes on revenue generated after June this year when Spain’s online gambling law was finalized. The new law is expected to renew Spanish player’s interest, and hopefully affiliate programmes in Spain, once again.