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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.
New Racing UK free-to-watch show -
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MLB Odds: Stroman Gets the Nod Against Royals -
The Toronto Blue Jays (70-80, –20.18 betting units) begin their final home stand of the 2017 campaign this Tuesday when they welcome the Kansas City Royals (73-76, +2.56 units) to Rogers Centre. Sportsnet has the coverage at 7:07 p.m. Eastern.
Microgaming QuickFire enters Coloumbia -
Wplay signs for Quickfire; strategic deal sees Quickfire enter Colombian market. Colombian-licensee Wplay has signed a deal for Quickfire, powered by Microgaming.
Partypoker to sponsor WSOPC Uruguay -
Partypoker to sponsor WSOPC Uruguay in December. Qualify exclusively on partypoker for WSOP Uruguay Main Event. December 7th to 17th in beautiful Punta del Este.
MLB Odds: Jays Hope to Spoil Orioles’ Visit -
The 2017 season is just about over for the Toronto Blue Jays (66-77, –21.19 betting units), but they can play spoiler in Tuesday’s game against the visiting Baltimore Orioles, starting at 7:07 PM ET on Sportsnet.
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Money Storm is not your typical online casino. While many focus on the quantity of games they offer their players, this one is more focused on the quality of their games.
Big Online SLot Win on Ultimate 10X Slot -
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