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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The fight has been protracted, with a 2004 decision going against the territory, a ruling which has been superceded by the current decision, which specifically dismissed the EC's conclusions regarding the relationship between Gibraltar and the U.K.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.
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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