13Jul
Italy’s Online Poker Players and Their Tax Situations

Italy’s online gambling scene has been slowly but steadily growing over the past few years and it has become Europe’s main gambling market. A projected increase in the popularity of the gambling market shows that it will come to triple its original size as poker cash games, slots and other casino style games are being introduced. Italy has recently legalized online gambling and with its legalization demands a responsibility from its players.

Players’ Contribution to the Government

The Italian tax authorities have a project that pretty much targets the earnings of poker players through tax. This is in the form of Operation All In which for some time now has been an ongoing project that focuses on the players winning in different online poker rooms. This is to ensure that not only the site owners contribute to the government’s coffers, but its player base as well.

Italian Poker Players are to Pay Taxes

During the earlier days of this year the more popular professional poker players sponsored by different Italian poker rooms and international poker rooms alike were asked for their financial details, which basically covers their winnings, sponsorship details, royalty income, and even any of their assets stored abroad in foreign bank accounts attached to online gambling which includes poker, sports betting, online casino gaming, and the like. Presently, the investigation of the Italian Revenue Agency and the financial police has started to cover a larger number of players which even includes Italian regular poker players online playing on poker sites that are out of Italy. A total of over 4000 players are affected with their profits nearing a total of $100 million collectively. These players have been informed to present a breakdown of their earnings as they visit their local tax offices or fill out the necessary information on the forms attached to the letters they received and send them to the offices.

Much like Sweden’s boat at the moment, players will be required to pay a certain percent of their winnings as tax from their sessions from either domestic or foreign online poker sits. Italy has legalized online poker now and in turn, players may have to comply with a 20% tax on any revenues by the licensed poker sites in Italy. With that said, both the establishments and the players will be making a contribution to the government’s treasury.

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