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Dislike what had arisen from the initial rumors, according to the Italian gaming authority the decree regulating the issue of the new Italian online gaming licenses will be passed at the beginning of May.
Operators that intend to enter in the largest European online gaming market should start getting ready, developing a business plan and working on their platforms to make them compliant with Italian gaming law requirements that are very stringent.
As already stressed in a previous post, the peculiarity of the new licensing regime is that it will allow operators to locate their legal seat and equipment in any country of the European Economic Area, or in any other country (e.g. Isle of Man, Alderney etc.) that will enter into bilateral agreements with the Italian Gaming Authority. This means that licensed operators will only be obliged to pay Italian gaming taxes, while they will pay the corporate taxes of the country where they are established as if they do not have infrastructures or personnel in Italy they will not be deemed by Italian tax authorities to have a permanent establishment in Italy.
This will represent a considerable advantage for foreign operators, but obviously only the first comers will be able to take advantage of all the benefits from this market that will be rapidly evolving because of the recent launch of online bingo and the upcoming launch of online poker cash games and casino games that have been regulated at the end of March.
Do you want know more about the above? Are you interested in understanding the requirements prescribed by Italian gaming law? Contact me, Giulio Coraggio.
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