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Spanish players on gambling websites will be affected by the recent income tax code update which came into effect last month. The change means that losses incurred on online gambling games can be deducted against funds won when annual winnings are declared for the purposes of tax.

The tax laws on gaming revenue in Spain have caused much confusion amongst players. Some interpretations of the tax code update imply that losses from poker tournament entries and cash game pots cannot be deducted from overall annual winnings. However, others are stating that it would only be withdrawals that are subject to taxation, and that deposits cannot be discounted from this sum.

This situation would mean that net losers would end up facing a higher tax bill. This would also result in the unworkable circumstance where certain gamblers who win substantial amounts through the year would experience tax charges that exceed the total sum of their annual gambling...

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