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Fiona Simmons January 22, 2024 2 min read
ATG Promotes Differentiated Tax as Sweden Prepares to Raise Gambling Taxes
Sweden plans to increase the tax rate for operators from 18% to 22% of their GGR
Aktiebolaget Trav och Galopp (ATG), Sweden’s former horse racing monopoly, is not happy with the country’s plans to introduce a tax hike. Hasse Lord Skarplöth, the operator’s chief executive officer explained that his team was shocked by the proposal and called for differentiated tax that would protect the racing sector.
For reference, Sweden plans to increase the tax rate for operators from 18% to 22% of their GGR. If approved, the measure would come into effect on July 1, 2024. However, the tax hike does not sit well with industry representatives, who believe that the measure would have adverse effects.
According to ATG, the tax hike would deal a significant blow to the racing industry, causing it to lose millions of dollars every year. As a result, ATG is now trying to promote differentiated tax rates that would provide some breathing space to the horse racing sector.
In a blog post, Hasse Lord Skarplöth expressed his thoughts and concerns on the matter.
Skarplöth Referred the Idea of Differentiated Tax to Lawmakers
Skarplöth explained that the initial proposal shocked him and his team. Since the horse racing industry is already struggling, ATG believes that coping with the tax hike would be very difficult.
Because of that, Skarplöth believes that differentiated taxation rates should be implemented. He cited other European countries that have higher iGaming tax rates because of the vertical’s high problem gambling rates. Skarplöth also pointed out that only Cyprus, Malta and the Netherlands have equal tax rates across verticals.
The CEO explained that there would be many benefits to implementing a differentiated gambling tax in Sweden as well. He counts on lawmakers to heed his proposal and save the racing industry much trouble.
ATG is currently discussing the matter with politicians in the country. Skarplöth explained that, luckily, political figures have so far demonstrated an understanding of the problems faced by the horse racing industry and the ways in which they will be exacerbated if the tax rates are increased.
As a result, some lawmakers have expressed interest in the idea of differentiated tax rates. Skarplöth hopes that these discussions will urge politicians to act.