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Is UK Reducing Gambling Tax Demands
Thursday March 7, 2013 : WILL THE UK GOVERNMENT CHOP ONLINE GAMBLING TAX PROPOSALS?
British newspaper quotes unidentified source claiming that Treasury moves may be afoot to incentivise major gambling firms to return to the UK by reducing tax demands.
The Mail on Sunday claimed at the weekend that the British Treasury is working on a multi-million pound sterling tax cut incentive in an effort to motivate online gambling companies based offshore to return to the UK.
The internet and mobile gambling divisions of many of Britain's top gambling firms relocated to tax-haven regulatory jurisdictions like the Isle of Man, Malta and Gibraltar when the former Labour government imposed a 15 percent tax rate which rendered them uncompetitive with other online gambling enterprises.
More recently, the UK government is in the process of drafting and implementing a secondary licensing and taxation regime aimed at any companies that access UK gamblers, although the 15 percent tax rate and potential problems with the European Commission continue to present difficulties, and Malta has already lodged a complaint.
The Mail on Sunday quotes an unidentified "senior government" source, who told reporters that the Treasury is now considering slashing the gambling tax by as much as a third in a bid to entice companies back to the UK and recoup some of the GBP 2.1 billion in revenues that has been lost over the last seven years.
The newspaper estimates that a five percent cut would save the offshore companies nearly GBP 100 million in tax each year compared with the presently proposed tax rate....and the government source said the argument for lowering gambling taxes from 15 percent to 10 percent was close to being accepted.
3 Top Bitcoin Poker Sites -
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Kentucky Derby Odds: Justify still Favorite -
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888Poker Takes Over the States -
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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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