{"id":2578,"date":"2024-10-09T13:24:59","date_gmt":"2024-10-09T13:24:59","guid":{"rendered":"http:\/\/stakery.io\/?p=2578"},"modified":"2024-10-09T14:16:01","modified_gmt":"2024-10-09T14:16:01","slug":"french-casino-body-calls-imminent-tax-hike-a-death-warrant-for-gambling-firms","status":"publish","type":"post","link":"http:\/\/stakery.io\/index.php\/2024\/10\/09\/french-casino-body-calls-imminent-tax-hike-a-death-warrant-for-gambling-firms\/","title":{"rendered":"French Casino Body Calls Imminent Tax Hike a \u201cDeath Warrant\u201d for Gambling Firms"},"content":{"rendered":"
<\/div>\n

Tax hike anxiety<\/h2>\n

France\u2019s new government under Emmanuel Macron\u2019s successor as Prime Minister, Michel Barnier, has sent gambling firms into a tailspin after news of proposed tax hikes on the sector.<\/p>\n

\n

will hit online sportsbooks and horse racing sites the hardest<\/p>\n<\/blockquote>\n

Les Echos<\/em> revealed that the Barnier administration will, on Thursday, publish plans to levy higher taxes on gambling firms. The proposed hikes will hit online sportsbooks and horse racing sites the hardest. France\u2019s retail lottery, online poker companies, and retail casinos are also bracing for the hit, which extends to online operators\u2019 marketing spend.<\/p>\n

The trade body representing France\u2019s 200 land-based casinos, Casinos de France, said the hikes will increase the load on the \u201cmost heavily taxed sector\u201d in Europe.\u00a0\u00a0\u00a0<\/p>\n

Casinos de France said the proposed move would threaten 45,000 jobs and that the planned 10% gross gaming revenue tax on Paris gaming establishments would be \u201csigning their death warrant.\u201d<\/p>\n

Rising taxes<\/h2>\n

According to Les Echos<\/em>, Barnier\u2019s tax increases are expected to bring in \u20ac1.6bn ($1.75bn) and boost the country\u2019s family health and social care provision funds by \u20ac400m ($438m) per year.\u00a0<\/p>\n

France\u2019s new regime could introduce the hikes into primary legislation or via amendments at the imminent parliamentary budget debates.<\/p>\n

Currently, gambling firms pay a \u201csocial contribution\u201d tax sliced from a percentage of their GGR.\u00a0<\/p>\n

Media reports state France\u2019s online sports betting and retail slot machine operators pay a 10.6% social contribution tax, while the lottery pays 8.4%, horse racing pari-mutuel operators pay 6.9%, and brick-and-mortar sports betting firms pay 6.6%. Casino GGR of over \u20ac1,500 ($1,644) is taxed at 16.7%.<\/p>\n

Under the proposed new social levy hikes, all online sports betting taxes will rise to 15%, retail horseracing taxes to 10%, and lotteries and casinos taxes to 9.2%. iGaming firms such as Betclic, NetBet, and Winamax already pay around 55% in GGR taxes outside of the proposed new social levy.<\/p>\n

Paris-based gaming establishments, known as cercles de jeux<\/em>, were previously exempt from social security taxes but will be required to pony up 10% of their GGR.<\/p>\n

Body bites back<\/h2>\n

Casinos de France has come out swinging in anticipation of the tax hikes, with the trade body stating it already contributes over \u20ac1.5bn ($1.6bn) in taxes per annum to government coffers and local communities.<\/p>\n

Casinos de France said the move would put at risk 45,000 jobs and would be signing a \u201cdeath warrant\u201d on Paris gaming firms<\/p>\n

President of Casinos de France and CEO of Barri\u00e8re Groupe, Gr\u00e9gory Rabuel,\u00a0stated the \u201cincrease in taxation would worsen an already difficult situation for our sector, which is the most heavily taxed in Europe.\u201d<\/p>\n

The post French Casino Body Calls Imminent Tax Hike a \u201cDeath Warrant\u201d for Gambling Firms<\/a> appeared first on Vegas Slots Online News<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Tax hike anxiety France\u2019s new government under Emmanuel Macron\u2019s successor as Prime Minister, Michel Barnier, has sent gambling firms into a tailspin after news of proposed tax hikes on the sector. will hit online sportsbooks and horse racing sites the hardest Les Echos revealed that the Barnier administration will, on Thursday, publish plans to levy…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[19],"tags":[],"_links":{"self":[{"href":"http:\/\/stakery.io\/index.php\/wp-json\/wp\/v2\/posts\/2578"}],"collection":[{"href":"http:\/\/stakery.io\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/stakery.io\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/stakery.io\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/stakery.io\/index.php\/wp-json\/wp\/v2\/comments?post=2578"}],"version-history":[{"count":1,"href":"http:\/\/stakery.io\/index.php\/wp-json\/wp\/v2\/posts\/2578\/revisions"}],"predecessor-version":[{"id":2579,"href":"http:\/\/stakery.io\/index.php\/wp-json\/wp\/v2\/posts\/2578\/revisions\/2579"}],"wp:attachment":[{"href":"http:\/\/stakery.io\/index.php\/wp-json\/wp\/v2\/media?parent=2578"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/stakery.io\/index.php\/wp-json\/wp\/v2\/categories?post=2578"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/stakery.io\/index.php\/wp-json\/wp\/v2\/tags?post=2578"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}