The European country of Portugal has announced that it has submitted its online gambling bill to the European Commission for approval, ensuring its legislation is compliant with international law.
The measure would legalize online gambling in the country while charging operators a tax of 15% on Gross Gaming Revenue for the first €5 million, while charging 8% on revenues of up to €30 million. Operators clearing that threshold will be subject to a modified tax formula.
Many countries in the European Union have come under fire for having online betting laws that are contradictory to laws put forth by the Commission. Those countries for the most part have much stricter betting laws, often times seeing restrictions placed on sites that are not licensed by specific countries.
Casino Listings will update this story as more developments arise.