As CalvinAyre informs, the Deputy Minister of Finance of Greece Tryfon Alexiadis has informed on the 5th of September that pertinent regulations of new laws of online gambling operators will be announced within a month.
According to Alexiadis, Greece authorities had drawn the conclusions from their unsuccessful experiment on issuance of 24 time-limited licenses for online work in 2011. They were suspended in 2012.
The Deputy Minister of Finance has underlined that the government tries to terminate the activity of those online-operators that don’t pay huge taxes as they belong to jurisdictions of other countries.
According to new laws, financial documents of gambling operators will be strictly inspected. As Alexiadis says, there were the cases when in various public documents of one and the same operator different profit ratio, earned in Greece, was indicated.
More than that, the authorities will attentively monitor transactions between Greek bettors and foreign companies. For this purpose the Greece regulator will establish cooperation with foreign payment systems that are working in the country.
This year the Hellenic Gaming Commission (EEEP) is struggling more actively with illegal gambling operators. According to the data for August, from the beginning of the year 847gambling web-sites had been added to the “black list”.
The edition marks that online operators can be possible frightened by the high tax rate – 35% of the income. In particular, the biggest Greek operator OPAP complained that in the 2nd quarter of 2016 the profit of the company decreased by 36%. At the same time, without this new tax the operator’s profit would rise by 2%.
As it became known at the end of July, CyprusGaming Commission(“CGC”) will start to accept bids for licenses acquisition that will allow operators to work online in the county.
The gambling licensing consultant of the Prospectacy LTD Leonid Borodin had analyzed on behalf of “Bookmakers rating” the possibility for Cyprus to become one more country with own license for online bookmakers.