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No Tax Assessment on Gibraltars gaming industry

Friday June 7,2013 : EC CONFIRMS NO TAX ASSESSMENT ON GIBRALTAR ONLINE OPERATORS
 
No action planned on Gibraltar operators with regard to direct taxation issues
 
The Gibraltar Chronicle reports that the European Commission does not intend putting Gibraltar's gaming industry under the microscope as part of its clamp down on tax evasion and tax havens.
 
The EC made the statement in response to Belgian MEP Marc Tarabella who claimed that Gibraltar-based gaming companies were party to unfair competition, he also requested an assessment on how the Gibraltar gaming sector impacts the European job market.
 
European Commission for Taxation, Customs, Anti-Fraud, Audit and Statistics Algirdas Šemeta said in a statement: “The Commission is not currently taking any actions in the area of direct taxation specifically targeting online gambling operators established in Gibraltar, nor is the Commission planning to undertake an impact analysis of gambling operations in Gibraltar.”  He also said, “Member States are entitled to establish the tax regimes they see fit, so long as these comply with EU law.”
 
With reference to Tarabella's unfair competition comment, Šemeta said European member states were welcome to introduce anti-abuse measures thought necessary to defend their tax base as long as they comply with EU law.  “There is no blanket exemption from VAT for gambling and tax may be due depending on where customers are located and how Member States implement any exemption,”  he said.

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Gambling News :

Interwetten 2016 Earnings Results - Privately-owned online sports betting operator Interwetten delivered robust full year results for the 2016 fiscal period, in which the company has almost achieved doubling its revenues over the past four years, success it attributes to its in-house developed platform

EU Online Gambling Tax Harmoney Dead - Tax expert says European Court of Justice Attorney General's opinion on UK-Gibraltar litigation signals that EU courts are happy for individual member states to impose their own laws on online gambling.

Jack Lam Facing Big Fines in the Philippines - It's going to be costly for Macau online gambling and junket tycoon Jack Lam to return to the Philippines following his rather hurried departure last year with allegations of economic sabotage, bribery and tax evasion swirling around him.

Walter Merricks Term As Gambing Commissioner Extended - The UK Government has extended Walter Merricks’ term as Commissioner of the Gambling Commission for a further year, ending December 31, 2017.

Loot’enKhamun Pays $3.8 Million Jackpot - A London-based construction worker’s year got off to a great start when he hit the Loot’enKhamun jackpot at bwin casino.

PlaySugarHouse To Carry Konami Content - Content provider Konami will provide its Gypsy Fire and Fortune Stacks slot games to Rush Street Interactive-operated PlaySugarHouse.com on an exclusive basis in the New Jersey real-money online and mobile wagering market.

ITF TERMINATES BETWAY SPONSORSHIP DEAL - The International Tennis Federation (ITF) has reportedly terminated Betway’s three-year sponsorship partnership as an extension to their anti-match fixing and sports integrity policy.

GSA To Launch European division - The expansion enables the GSA to better focus on the regional needs of its members outside of North America and underscores its recognition and commitment to growing European membership.

Paddy Power Trading Update - Company prevails despite adverse sports and US election results; Trump success cost the group GBP 5 million, whilst punter successes took another GBP 40 million in Q4-2016.

Tabcorp SunBets project - The details were revealed this week in an IT News article quoting Tabcorp's chief information officer, Kim Wenn, who described the SunBets project as Tabcorp's biggest global venture yet.

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