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RANK PLC VAT REFUND IMPLICATIONS EXAMINED
Rank plc's success in fighting for a VAT refund on bingo operations could have expensive financial implications for the British government, reports the BBC in a follow-up piece.
The article notes that the High Court ruled that Rank was entitled to GBP 62 million from value added tax overpaid on slot machines and bingo takings over a five year period plus interest. This follows some UK gaming and bingo machines being exempt from VAT while similar machines were subject to the tax - a disparity illegal under EU law.
But the report points out that the judge had commented that there were over a thousand similar claims outstanding, and accounts firm Deloittes has estimated that GBP 500 million could be returned, with pub chains, bookmakers and amusement arcade operators among those having made similar claims to get VAT repaid.
Those running fruit machines at motorway service stations and holiday camps could also be in line for refunds, Barney Horn, indirect tax partner at Deloitte, told the BBC. Principles set out by the European Court of Justice "require the same or similar services to be treated in the same way for the purposes of VAT" Horn said.
There was a disparity in tax rules until until December 2005, when HMRC amended the law to tax all of these gaming machines.
One of the claims relates to interval bingo - an mechanised game played during gaps between rounds of traditional bingo.
The other claim relates to gaming machines, or slot machines. in Mecca Bingo clubs and Rank's Grosvenor casinos.
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.<
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