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December 2014 For New British Gambling Tax
Monday January 21, 2013 : DECEMBER 2014 DATE SET FOR NEW ONLINE GAMBLING REGIME IN BRITAIN
Tax rates as yet uncertain for secondary licensing system based on point-of-sale
The new online gambling regulations in Britain, based on point of sale and requiring offshore internet gambling companies wishing to access the UK market to pay taxes and take out licensing with the UK Gaming Commission, will be implemented in December 2014 according to government advisories.
What is not yet certain is the tax rate that will be applied, and that will be made known only when the Treasury submits amendments in support of the licensing changes, ensuring that operators everywhere who make profits from UK punters pay the requisite tax.
Because the tax will only be levied on revenues generated by British gamblers, there is speculation that some UK-based companies could benefit from the new dispensation, because their profits from gamblers outside the UK will be exempt, although they will continue to pay corporation tax.
Experts have warned that if the current UK gaming tax rate of 15 percent of gross profits is applied it could have a negative effect, having already motivated a number of major UK companies to relocate their online gambling divisions to more tax-friendly jurisdictions.
A William Hill-commissioned study by independent professional services provider Deloittes last year warned against such a high tax rate and its consequences, which would be counter-productive to the aim of persuading companies to get with the new UK program.
Thus far Treasury has played its cards close to its chest, revealing only that it continues to work with both the industry and government on the project.
PartyPoker Rakebak -
Partypoker brings back rake back for players. All new ‘partypoker weekly Cashback’ launches.
NHL Odds: Lone Canadian Team Plays on Friday -
“Stingy” is a word that many have used to describe the Ottawa Senators in Round Three. The Sens know that they’re overmatched against a Pens lineup that features the likes of Sidney Crosby, Evengi Malkin and Phil Kessel, but with determined defensive play, Ottawa managed to frustrate the Penguins on their home ice, stealing one of two games.
NBA Odds: Will Cavaliers Be Rusty in Game 1? -
The Boston Celtics needed seven games to get past the Washington Wizards, but they got the job done Monday night, winning 115-105 as 5.5-point home favourites. Next up: the defending champion Cleveland Cavaliers, who visit the Garden Wednesday night at 8:30 PM ET on TNT.
4 New Microgaming Releases in May 2017 -
Candy Dreams is a 720 ways to win, variable reel game. Players spin on a colorful reel area filled with candy treats, as they play towards enticing bonus triggers.
PKR Company Statement Update -
Microgaming can confirm that David R Taylor and Matthew R M Wild of RSM Restructuring Advisory LLP were appointed Joint Administrators of PKR Ltd and PKR Technologies Limited on 11 May 2017 by the High Court, Chancery Division.
Microgaming Wins The Spark Award 2017 -
The Spark Award celebrates organisations that experiment with ways of working differently. Previous winners include GCHQ and Places for People. It’s a part of Spark the Change, a global movement dedicated to empowering people and building happier workplaces.
NHL Predators First Ever Conference Finals Appearance -
With three of the team’s top four point scorers residing on the blueline, the Nashville Predators have found a strategy that frustrates even the best in the West. After qualifying as the lowest-seeded Western Conference team, the Predators made quick work of the Chicago Blackhawks (4-0) and St. Louis Blues (4-1) in the first two rounds.
NBA Odds: Wizards-Celtics at the Garden -
The Washington Wizards are making this a series. They’ve won back-to-back games against the Boston Celtics to knot this second-round matchup at 2-2 with Game 5 at the Garden on Wednesday. TNT has the coverage starting at 8 PM ET.
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