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RANK CALLS FOR REFORM IN UK GAMING TAX
Tuesday December 6,2011 : Single tax rate to level the playing field
UK-based online gambling firm Rank Group Plc has called on the UK Government to consider a single rate of gaming tax rather than a piecemeal approach that it believes stifles growth, inhibits job creation and puts vulnerable consumers at risk.
A paper published by the company today (Monday) urges the HM Treasury review committee on both terrestrial and online gambling taxes to level the playing field rather than add to an already confusing tax system.
Points outlined in the paper include:
· Fairness - by removing arbitrary distinctions in the taxation of the same gaming products and thus guarding against market distortion;
· Responsibility - by encouraging the development of highly supervised licensed gaming venues, where adults can enjoy themselves safely; and
· Sustainability - by encouraging all operators to make a fair contribution to the UK economy through stable tax yields for the Exchequer and by stimulating job creation in the UK, through increased investment.
Rank addresses Conservative and Liberal parties pre-election promises to bring in line the disparity of bingo taxation in licenced clubs with other forms of gambling , including online bingo and points out that casino games are subject to no fewer than seven different tax systems with duty rates ranging from 0 percent for online going up to 50 percent on licenced venues.
Ian Burke, chief executive and chairman of Rank, said: "I believe that the Government has the opportunity to create jobs in the UK without sacrificing tax receipts by replacing the current patchwork quilt with a single tax, at a single rate".
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2017 Aussie Millions Event 1 -
The Melbourne-based player bested a field of 1,565 entries - 245 up on last year's equivalent - to end up in the heads up with New Zealnad's Qiang Fu, but not before both he and Qiang had narrowly escaped at the four-handed stage when they were the low stacks.
Swiss Reject idea to Block Gambling Websites -
The Legal Affairs Committee of the Swiss National Council has nixed new regulations which would have blocked access to online gambling sites in Switzerland, according to local media reports Tuesday.
Growth Ahead For Online Gambling -
Transparency Market Research has issued a teaser on its latest international online gambling and betting survey, forecasting that the industry will grow at a Compound Annual Growth Rate (CAGR) of 10.8 percent by 2024.
New Qubit software For SkyBetting -
#qubit Sky Betting & Gaming aims to top its record 50 percent revenue growth last year with new player differentiation software and expertise provided by the Qubit company.
Slotfather II Slot Launching -
#betsoft The first is a sequel to the popular gangster-themed online slot Slotfather, unsurprisingly titled Slotfather II, whilst the other is a new 243 ways-to-win game titled Fa Fa Twins..
Massachusetts Online Lottery Bill -
Flanagan's confidence was clearly boosted by the bill's success in the Senate last year, although it was not developed by the House and ran out of time.
Italy Doing Well With Online Sports betting -
The latest numbers from the Italian regulator show that online sports betting remains king when it comes to internet gambling in the market, generating Euro 391.8 million in turnover in December 2016.
Michigan To Reintroduce Online Gambling Bill -
#Michigan state Sen. Mike Kowell's staff have confirmed that the senator plans to reintroduce his online gambling legalization bill, which failed to make it through the last legislative season.
MGM Buys DC office building For lobbying team -
#MGM Resorts International has bought a new Washington, D.C., office building for its in-house lobbying team, led by former chief counsel to the now retired Nevada Sen. Harry Reid, Ayesha Khanna.
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