Sweden proposed gambling tax increase in 2024

In Sweden, it is planned to increase the tax on gross gambling income. A similar provision is contained in the draft budget for the new financial year prepared by the Ministry of Finance of the Scandinavian country. The document will be considered by the Riksdag in June 2024.

According to the contents of the draft budget, gross gambling income is proposed to be taxed at a rate of 22%, which is 4% more than currently. Moreover, a tax rate of 18% has been applied since 2019, when the Swedish gambling market was legalized.

The authorities expect that the tax increase will allow an additional 540 million Swedish kronor (45.4 million euros) to be raised into the budget.

If the draft budget is adopted, the new tax will come into force from the beginning of the next financial year, which will occur on July 1, 2024.