The Tax Man Cometh

The Tax Man Cometh

August 27, 2009.

The Greek daily newspaper Ethnos reports that effective September 21st 2009 the government will be implementing a 10 percent tax on gambling winnings.

The news report reveals that a decision by the Ministry of Economy and Finances cancels the non-taxable threshold, which has been in force up to now, despite the strong opposition of gambling companies.

A 10 percent tax is levied on all winnings, upwards from Euro 1, in respect of lottery, gambling games and stakes.

There will also be a 20 percent tax levied on all winnings larger than Euro 1 000 won by any contest participant.