The French government has proposed new legislation that would significantly impact the online casino industry in the country. The proposed legislation includes a 55.6% tax rate on online casino operators, a move that has sparked controversy and debate within the industry.
The new legislation, if approved, would make France one of the highest taxed online gambling markets in Europe. The proposed tax rate is nearly double the current rate of 30% and is seen as a way for the government to generate more revenue from the booming online casino industry.
In addition to the tax rate increase, the legislation also includes tighter regulations on online casino operators, including measures to prevent money laundering and protect consumers from problem gambling. The government argues that these measures are necessary to ensure a safe and fair online gambling environment for French citizens.
Industry experts and online casino operators have expressed concern over the proposed tax rate, arguing that it could have a detrimental impact on the industry. Many fear that the increased tax burden will force operators to either raise prices for consumers or cut back on services and offerings, ultimately leading to a decline in revenue and job losses.
Despite the pushback from industry stakeholders, the French government remains resolute in its decision to implement the new legislation. Finance Minister Bruno Le Maire defended the proposed tax rate, arguing that it is necessary to ensure that online casino operators contribute their fair share to the country’s economy.
The legislation is expected to be debated in parliament in the coming months, with a final decision expected to be made by the end of the year. In the meantime, online casino operators in France are bracing themselves for the potential impact of the proposed tax rate and preparing for what could be a major shakeup in the industry.
