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Bingo Exempt from Taxes
12/12/09 - The embattled UK bingo industry received an early Christmas present this week when the UK tax authorities announced that it will accept that bingo games will be Valued Added Tax exempt.
The announcement follows HM Revenue and Customs' consideration of its failed High Court case against the Rank Group, where the group's mechanised bingo machines were classed as VAT exempt by the courts.
The publication Accountancy Age quotes official sources as confirming that the ruling includes all bingo games.
Deloitte senior indirect tax partner Tony McClenaghan said it was a "very positive announcement" for the industry, and those organisations affected should consider submitting claims for overpaid VAT.
"We believe that this is the right approach for an industry that has suffered in the last few years with an increasing burden in taxation," said Clenaghan.
However, with HMRC's appeal set for the courts in April 2010, the taxman has warned VAT claimants that if the government's appeal against the court ruling is successful, it would require the repayment of any reclaimed VAT with interest.
The VAT exemption follows a 2 percent cut on 'bingo duties' from 22 percent to 20 percent announced in the budget earlier in the week by Chancellor of the Exchequer Alistair Darling and due to take effect from April 2010.
3 Top Bitcoin Poker Sites -
Bitcoin, in particular, is a cryptocurrency that you can use on various online poker sites and it allows a faster and cheaper way to get money into and out of the online poker site.
Kentucky Derby Odds: Justify still Favorite -
With all the races on the Road to the Kentucky Derby complete, Justify is still on top of the odds list at 4/1. But he’s got company: Mendelssohn (9/2), Audible (11/2) and Magnum Moon (8/1) are all very much in contention for the big race on May 5.
888Poker Takes Over the States -
With more and more states moving toward online casino integration, an increasing number of international players are moving in on American territory. Who will take the crown of the most popular online poker venue in the United States?
Top gambling ICOs to watch this year -
The gambling ICOs that are being launched in 2018 are of better quality. Unlike the last half of 2017 when ICOs were numerous, the first few months of 2018 have seen a big drop in number.
MPN Poker Tour Bratislava | Day 2 -
It was a hard fight around the bubble, culminating in the elimination of Georgios Drakakis in 46th place. He received a surprise consolation entry into the next MPNPT stop in Sunny Beach, Bulgaria (5-8 July), which softened the blow of missing out on a €900 min-cash.
MPN Poker Tour Bratislava Day 1B -
Dorey Captures Chip Lead After MPNPT Bratislava Day 1b Triples 1a Field Size. The second flight of the €550 MPN Poker Tour Bratislava Main Event is in the bag, and so are the chips of 97 players who will be returning along with the 26 Day 1a survivors to fight to the money and beyond today
MPN Poker Tour Bratislava Day 1A -
The MPN Poker Tour has arrived in Bratislava for the very first time, bringing with it the Tour’s friendly mix of local and globe-trotting poker enthusiasts, pros and qualifiers to the beautiful Slovakian capital.
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