Following their misfortune in suffering the heavier taxation imposed by the latest ‘Save Italy’ budget introduced by the new Monti government, Italian taxpayers have now found out that, arising from a measure within last August’s Berlusconi government budgetary package, they are also liable to be taxed if they have a little good luck in the future.
With the objective, as specified in the earlier budget, of raising some EUR1bn (USD1.3bn) in additional revenue, enabling decrees have recently been issued to impose a 6% tax in Italy on all winnings above EUR500 from the national instant lotteries (including, for example, scratch cards), with effect from January 1, 2012.
The tax will be immediately subtracted from the payment of winnings by the lottery operator. However, winnings from the ‘Lotteria Italia’ (the national lottery), poker, online casinos, bingo and slot machines remain outside of the tax net.
.Tags: tax | economics | business | individuals | gambling | budget | Italy | gambling tax | Italy
Network Tweets
Network BlogsContent
provided by
|
Archive | Resources | Partners | Site Map | Links | Newsletter Archive | Contact | RSS Feeds | About | Syndication | Advertising & Marketing | Recruitment | Terms & Conditions | Privacy & Cookies
Copyright © 2012 - All Rights Reserved - Tax-News.com
IMPORTANT NOTICE: Tax-News.com has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments.
Write a comment