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StanJames : Tax hearing relating to online Gibraltar relocation
Monday June 25, 2012 : STAN JAMES HEAD TO HEAD WITH UK REVENUE AND CUSTOMS?
Tax hearing relating to online Gibraltar relocation
According to This is Money.co.uk, bookmaker Stan James is facing a UK Revenue & Customs (HMRC) tribunal relating to the move of its internet and phone betting division to Gibraltar in 2000.
The HMRC reportedly claims that the move was undertaken purely to evade paying UK gambling duties and is asking to levy a tax rate on the Gibraltar business's profit at the same rate it would apply to a shareholders' personal income which is likely to be higher.
This is Money did not disclose how HMRC intends to prove this.
Relocation of UK companies is sanctioned if it can prove genuine commercial reasons for doing so, however special tax charges are levied at those deemed to have made the move to evade paying taxes.
Industry observers are questioning the UK tax authorities reasoning taking into consideration that secondary licensing is imminent and point to the fact that other prominent gaming companies such as Victor Chandler, William Hill and Ladbrokes have all moved elements of their business offshore to Gibraltar.
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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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