Indian Government Hits iGaming Industry With 28% Tax
It was recently revealed that the Indian government has stated that it would levy a 28% tax on the funds online gaming firms earn from their clients from each game. In addition, companies have so far paid little tax on the fee they charge for providing real money games and this move by the government is a huge blow to a $1.5 billion industry that has grown popularity and lured foreign investment.
The iGaming companies disagree with the decision:
Commenting on the government’s decision, Finance Minister Nirmala Sitharaman said: “The decision to impose tax on the total amounts gaming companies collect was taken after consultation with states, and the intent was not to hurt the industry.” <…