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Point Of Consumption Tax For UK Gambling
Wednesday May 1, 2013 : POINT-OF-CONSUMPTION THE CORRECT REGIME FOR ONLINE GAMBLING IN THE U.K.
But DCMS select committee warns government against too high a taxation rate.
The British government's Department of Culture, Media and Sport select committee on the adoption of a "point-of-consumption" regulatory regime in the United Kingdom has submitted its report here:
The report supports the concept of point of consumption regulation, secondary licensing and taxation for internet gambling operators accessing the UK market, commenting specifically: "We support the principle that gambling should be regulated on a ‘point of consumption’ basis: where the consumer is. "We note the concerns raised about taxation of the online industry. "The Government stated that the ability to bring all operators serving UK consumers within the tax net is a consequence, but not the prime motivation, of the draft legislation.
"We note in this regard that, in setting a tax rate for remote gambling, the Treasury should bear in mind that too high a rate would be liable to drive customers and companies into the unregulated, black market."
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