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GIBRALTAR TAX CHALLENGE DEFEATED
The long-running European Commission's challenge to the benevolent corporate tax regime in Gibraltar has been resolved by a European Union court in favour of the tiny Mediterranean nation. The many online gambling companies based in Gibraltar have been keeping an eye on the case, which originated in 2002, due to its potential influence on the economic viability of operating in the country.
The Luxembourg court's ruling entrenches Gibraltar's decision to levy a competitive tax rate of only 15 percent of profits on offshore companies which have established domicile in the British territory.
The European Commission launched its challenge to the low tax regime in Gibraltar back in 2002, basing its objections on the territory's fiscal autonomy from the British government. The Commission contended that the low corporate tax rate gave Gibraltar-located companies unfair advantages over their U.K. counterparts, and charged that for taxation purposes the territory should be considered part of the U.K. and therefore be subject to its [higher] corporate tax rates. The Gibraltar government responded by referring the Commission to Gibraltar's 1969 constitution which explicitly gives the territory fiscal autonomy.
The fight has been protracted, with a 2004 decision going against the territory, a ruling which has been superceded by the current decision, which specifically dismissed the EC's conclusions regarding the relationship between Gibraltar and the U.K.
In its ruling, the EU court in Luxembourg drew on a 2006 judgment on the tax regime of the Azores (an archipelago belonging to Portugal) to support its decision that from a constitutional standpoint, Gibraltar's political and administrative status is indeed separate from that of the U.K. government.
Prominent online gambling groups based in Gibraltar include PartyGaming Plc, 888 Holdings Plc, Victor Chandler International and Mansion Group. Local estimates put the percentage of Gibraltarians employed in the industry as high as 12 percent.
Gambling News :
Betradar Launches US Sports Betting Solutions -
With only a few weeks to go until the betting and gambling world descends on ICE in London, Betradar have today announced that they will be launching a comprehensive range of tools and services to any company that will be looking to provide sports betting in a post-PASPA United States.
Final 12 For MPNPT Morocco -
Sunday on the MPN Poker Tour Morocco will see several trophies awarded at the Mazagan Beach Resort, with the largest going to the Main Event champion along with a prize of MAD 400,000 (c.€35,400).
MPNPT Morocco Updates -
Leading the 104 combined survivors from both flights is still Said El-Yousfi with 272,000 chips; visit the MPN Poker Tour blog for an end-of-day recap and full chip counts.
MPN Poker Tour Morocco Day 1A -
The MPN Poker Tour has returned to Morocco this week (January 11-14), featuring the MAD 1.5 million guaranteed Main Event, accompanying side events, and the activities and parties for which this tour has now become known on two continents.
2018 MPN Poker Classic -
The MPN announces the return of The Classic tournament series this January. The series is back following its successful €350,000 guaranteed debut in 2017. This time €500,000 is guaranteed, along with a once in a lifetime trip to Monaco for the Classic Champion.
PDC and Sportradar Renew Deal -
Following this month’s hugely successful World Championship, the Professional Darts Corporation (PDC) and long-standing partners Sportradar have renewed their multi-faceted cooperation that will see the leader in sports data and content continuing in their role as official data
Poker Yaar Joins MPN -
Available through download, instant play and mobile, Pokeryaar.com is live with Omaha, Hold’em and Five-Card poker variants, alongside MPN’s Fish Party, the industry’s only progressive jackpot SNGs.
New MPN Poker Rooms Tower Torneos -
Impressed with Microgaming, having already integrated with the Quickfire platform to gain access to some of the industry’s best gaming content, Tower Torneos has extended the relationship with poker.<
NY Rangers vs. Devils on 12/21 -
When the Devils and Rangers hit the ice on Thursday (7 PM ET on MSG), so too will two of the league’s top netminders. After a slow start to the season, Henrik Lundqvist has returned to his form of old. Through 29 games, he’s posted a 2.59 goals against average, and a .920 save percentage.
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