Backlash Over Betting Tax Increase

Backlash Over Betting Tax Increase

Intense Discussions in the Parliamentary Finance Committee – Possibility of It Being Considered State Aid.

There is a possibility that the bill to increase the percentage of net revenues from betting, which is paid by the Cyprus Sports Organization (CSO) to the Cyprus Football Association (CFA) and used to support football teams and their academies, from 1.5% to 3%, which will be offset against the debts of the clubs and deducted from the grant given to them, may be considered state aid, as warned by the Commissioner for State Aid during the discussion in the Parliamentary Finance Committee.

During the discussion in the Finance Committee, there were reactions, with members of parliament noting that the bill would send the wrong message to the clubs regarding their debts, requesting that it be withdrawn.

In fact, AKEL MP Aristos Damianou mentioned that "this bill is an assault on good governance."

However, as clarified by the CSO, the increase in the percentage from betting will be given to clubs that do not have debts, while it will be offset and deducted from clubs with debts.

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