Italian Poker Players Facing Heavy Tax Bills

Italy’s high stakes poker pros are currently facing potentially hefty tax bills from their domestic Revenue Agency after an investigation was launched into the income they earned from associations with various online poker rooms.
Earlier this year, professional internet pros sponsored by Italian and international poker rooms received requests for a whole list of financial details, including their winnings, sponsorship and royalty income,
and foreign assets stored abroad.
Currently, these players face taxes on their winnings from sites not part of the regulated Italian online gambling market, as well as on their ‘financial assets’ held internationally.
However, the latest investigation has widened to include Italian residents regularly playing on offshore live media, with initial results revealing over 4,000 players made almost $100 million, without declaring the income on their tax returns.
Online gaming in Italy has been expanding steadily over the last few years and the country now boasts Europe’s biggest online gambling market. It has risen from €3.4 billion in 2009 to €4.8 billion in 2010. Furthermore, the market is set to triple in size with the recent introduction of cash game poker and casino style online games and slots to the country.
Italy’s licensed online poker websites are currently charged a 20% tax rate on their gross revenue, adding significantly to the country’s coffers. The latest move targeting the players by the Italian government is now seen as a way of ensuring that both the players, as well as the site owners, are contributing equally.

Other news:   Multi-state online poker compact bill introduced in Pennsylvania

Poker News
24 Aug 2016
On August 15th, the iPoker Network officially exited the Ukrainian market, and has now sent out emails to all affected players instructing them to withdraw their money by the month’s end. Last week, several of the network’s skins, including Gala Casino Poker, Coral Poker and Mansion Poker, also withdrew their products from Russia. Unlike individual
27 Jul 2015
In an effort to promote poker and help develop the industry as a whole, the World Poker Fund Holdings (WPFH) has now recruited Martin Owens to become the company’s chief adviser, a role he is more than qualified to undertake having specialized in online gaming law since 1998. Amongst his many duties, one of Owens’
23 Jun 2014
Having already withdrawn its product from Washington, Maryland, New York, and New Jersey, US-facing online poker site Bovada has now added Nevada And Delaware to its list of excluded US states. Those players attempting to open new accounts in those jurisdictions will now be greeted with a message stating: “We are sorry. We do not
19 Jun 2014
Earlier this month State Sen. Edwin Erickson announced his intention to present internet poker bill Bill 1386 to the Pennsylvania Senate, a promise which he has now fulfilled, albeit in a slightly expanded form than its original poker-only format. In the new version of the Bob Mensch (R- Montgomery) co-sponsored bill, there now appears a