Greece – Syriza targets online gambling for additional tax revenues

Yanis Varoufakis

The Financial Times, has leaked a letter from Greece’s far left governing party Syriza to Jeroen Dijsselbloem Head of European Union financial interstate body Eurogroup, outlining potential reform proposals for Greek tax revenues.

The letter composed by Syriza Finance Minister Yanis Varoufakis proposes seven reforms which have been considered, as the country’s new government seeks to meet conditions for its next bailout instalment.

Greek economist Varoufakis has been tasked to improve the country’s tax revenue efficiencies, as the far left political governing party looks to raise an additional €500 million in yearly tax revenues. In the letter to Eurogroup, Varoufakis and Syriza leaders have targeted commercial enterprises as central to its tax revenue reforms.

Of the seven planned reforms, Syriza discuss raising new tax revenue channels through the selling of Greek national licenses to foreign online gambling operators. Varoufakis envisages the licenses to be worth €3 million for a licensed operational period of five years.

Tax rates would remain the same for online gambling operators, however those licensed would have to serve the Greek betting consumers with approved payment systems controlled by the Greek Central Bank.

Greek news sources have further speculated that Syriza will likely call for a review of Greece’s current gambling framework in the coming weeks.

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