In line with our other recent articles, here you can all about the continuing changes that are coming, have come or are in early or advanced stages or planning, even just rumours, of changes to online gambling to specific countries or regions.
Switzerland is the country in question here and with 2 different aspects relating to gambling, but still directly related, right up in the air of change even if not all parts of concretely sealed just yet,.
Taxes and Laws
Towards the end of September, at the end of Parliamentary proceedings, a “compromise” was reached regarding taxes being applicable to lottery or sports betting returns. It has been agreed that the proposed tax would only be applied to winnings surpassing 1m Swiss Francs, which has, for what many believe, now paved the way for on overhaul and full controlling monopoly on gambling laws in the country.
The 1923 Lotteries and Betting Act and the 19998 Gambling Act are those which are subject to removal and replacement now, with all eyes and thoughts turning straight to a singular, unified and specific gambling law to treat all gambling activity with the same attention, demand, taxation and control.
The newly proposed law will look to protect people against manipulation, money laundering, fraud and, perhaps even more of a concentrated effort, to protect minors from online gambling.
If passed, the new law will only allow entities based within Switzerland to conduct and operate online betting services/games and the winnings from such games and activities will be deemed as taxable income and subject to income tax requirements.
A Legislative Vote
Before any of these changes noted above, or noted all around the internet, can come into play and be directly enforced as law – they need to be voted and get past a referendum. This is widely foreseen as the big blockade against all the plans of taxation changes, ISP changes and the entire legislator proposals that the Swiss government have raised.
The bill itself has many changes involved notwithstanding taxable income including winnings from lottery and sports bets, but also allowing land-based casino and poker games gfor the first time and a direct requirement for Swiss ISP’s to block international domains for gambling websites offering services to Swiss customers.
If the referendum passes and the government enforce these changes, they will be in place for 2018 (January) – but even with this aiming date set, there is a long way to go for this to come into a big picture or a realistic one at that. ISP blockings is not something that is often welcomed nor approved.
Locally, the Swiss based casinos have begun the preparations to possibly take over the online Casino market in the country, a big chance for smaller firms to turn struggling financial years into exceeding ones, albeit their discontent at the taxation aspect that has been proposed in the bill.
There are a lot of gambling firms who allow Switzerland residents to bet with them with some more concentrated and dependant on the region more than others – no matter which stature your company is, we here at Slotsjudge are sure you’ll feel the pinch should Switzerland be “taken off the market”.