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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The fight has been protracted, with a 2004 decision going against the territory, a ruling which has been superceded by the current decision, which specifically dismissed the EC's conclusions regarding the relationship between Gibraltar and the U.K.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.
Oink Country Love Slot Launches -
Oink Country Love will have players tapping their feet to the country beat with the lovable Oink Bros, Willy and Chancho, who are trying to win over the heart of Miss Southern Charm in this five by three reel, 45-line online slot.
Tim Chung Wins MPNPT Manchester -
The 288-runner £550 MPNPT Manchester Main Event today crowned its champion, awarding the bulk of the £150,000 total prizepool to the nine players surviving after two days of tournament poker at the Grosvenor Casino.
MPNPT Manchester Day 2 -
Day 2 of the £550 MPNPT Manchester Main Event saw 60 Day 1 survivors (from a total of 288 entries) and three intrepid last-minute registrants sit down to play to the final table.
Day 1B MPN Poker Tour Manchester -
Day 1B of the £550 MPNPT Manchester Main Event saw the field rise to 285, as players took full advantage of the whole-day re-entry period.
Day 1A MPNPT Manchester -
The £150,000 guaranteed MPNPT Manchester kicked off today in style – 74 poker players from all over Europe arriving at the Grosvenor Casino to contend the first of two starting days
Kung Fu Rooster Slot Goes Live -
Celebrate Chinese New Year - 2017 Year of the Rooster. It's time to sweep away any ill-fortune and make way for incoming good luck, with this exciting 12 lines slot game.
Sensational Sixes Slot Goes Live -
Light up Icons like BAR's, black spades, red hearts, blue diamonds, and green clubs. The best part of Sensational Sixes are the three wild icons, for 2X, 4X, and 6X multipliers!
3 New Betsoft Slots -
3 new Betsoft slot Games were also added this week to most online casinos allowing US players.
2017 Bodog Super Millions Poker Open -
The first events on the 105-tournament schedule have already been completed; there are three more tourneys on Thursday’s schedule, with a total of $34,000 in guaranteed prize money waiting to be won.
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