It is no secret that in many countries the major prizes don’t necessarily stuff the pockets of the successful and lucky players to the full extent, a good share of a winning amount settles in governments’ treasuries. Some countries, however, are way more liberal as for winnings taxation; thus, in Switzerland a series of major amendments to the legislation that would free the successful players from having to pay taxes is planned.
At this point in the country taxed only winnings earned in lottery games, while the payments received in the casino, are not subjected to taxation rules. This approach leads to an imbalance in the gaming industry, as winnings obtained during playing slot machines, roulette and other casino games of chance are paid to the full extent.
Therefore, the Swiss Federal Council is considering the option of balancing the legislation to resolve the issues caused with uneven taxation rules. Thus, according to German dgfev gambling review agency working closely with Swiss partners, it is planned to complete the release of all gains from taxes. The Government is concerned by the fact that such a decision will reduce the flow of funds in the budget, and will have to seek alternative sources of funds to the state treasury.
The way out undertakings on the horizon
Allegedly it is planned to open full access to gambling in Switzerland. This will presumably allow the citizens of this country legally play favorite games, including slot machines. The implementation of the new legislation may take up to a year in case of the approval.
Since Switzerland was able to quickly overcome the economic crisis, its leaders decided to improve the state of the gaming industry. For example, according to reports from local economists, the last year of 2013 was marked by an about 8% of total revenue loss in the gambling sector. In this case, such a decline was recorded in all the official gambling operators registered in Switzerland.
Such statistics may be the result of the rapid development of online gambling in neighboring states, which significantly affected the flow of tourists. Given the current situation, the local government has decided to amend the Swiss law adjustments that would allow online gambling operators to provide their services to the local population. In this regard, it is supposed to create a special state supervisory authority for the implementation of the regulation of the activities of such companies in the country and monitor the transparency of their businesses.
In fact, Switzerland is not the only state where bills gambling legislation is changed. It is worth noting that many governments are actively considering and investigating the benefits and harms of the gambling industry. But, for example, in the United States after a hurricane swept the government desperately pondered, to legalize the market, when he felt a lack of funds. Cypriot authorities restricted the work of their operators, and even imposed fines on those companies that no longer conduct business in the vast country.