This is the eighth time that the Malta firm has been awarded this title. The ITR European Tax Awards are conferred by ITR on firms that demonstrate innovative client work within the European region.

Deloitte Malta’s well-established tax practice supports clients, whether privately owned or publicly held, operating across all sectors of the Maltese economy including foreign headquartered groups with activities or other commercial interest in Malta. With seven tax partners and over 110 tax professionals, it is the largest tax practice in Malta.

Conrad Cassar Torregiani, leader of the Malta Tax function, commented by saying: “This award bears testament to the dedication, skill and excellence of our people. Winning the award 8 times in the past 10 years acknowledges our collective commitment to our clients and to the consistent delivery of top quality service. It strengthens our resolve to grow and to remain, through Deloitte, global undisputed leaders in the provision of professional services.”

The other years in which Deloitte Malta has won the prestigious award are 2010, 2011, 2014, 2015, 2017, 2018 and 2019.

For more information, please visit www.deloitte.com/mt/itr

The post Deloitte Malta recognised Tax Firm of the year by ITR first appeared on The Malta Business Weekly.

Spain’s online gambling sector has been on a steady rise, and the recent announcement boosts expectations for the market. The Dirección General de Ordenación del Juego (DGOJ), the country’s gambling regulator, had reported about a 27% year-on-year growth in online gambling revenue for the first quarter of 2018, soon before the tax cut came to light in June 2018.

Pundits expect the tax cut to be beneficial for everyone. On the one hand, operators are seen to be given leeway for better offers for players, which can boost revenues significantly. On the other side, as a result of the foreseen boost, the government could pocket more in taxes, analysts say.

DGOJ had long been lobbying for tax cuts, but economists said earlier the Spanish economy was not ready for such a decrease. However, as the Spanish economy saw an expansion of 3.1% in 2017, grounds appeared to have been set for the cut.

The recently-announced cut applies to online fixed-odds betting and sports betting, fixed-odds horse racing, betting exchanges and online casino games, bingo and poker, according to reports. At the same time, companies located in Ceuta and Melilla on the northern shores of Morocco’s Mediterranean coast are taxed 10% of online gross gaming revenues, as earlier.

Parimutuel betting gross gaming revenue is also seeing a cut from 22% to 20%, bringing the rate in line with state-owned betting services, according to a report by iGamingBusiness. However, the tax rate for pari-mutuel horse racing and pari-mutuel pool betting gross gaming revenues have been increased from 15% to 20%, the online gaming news site reported.

Malta has long been considered the hub of iGaming and innovation in the region. With the recent progress in Spain, eyes are cast at the Spaniard market in anticipation to see how this will affect the area overall and Malta’s position in the EU-28.

The post Spain axes iGaming levy by 5% first appeared on The Malta Business Weekly.