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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.
Danske Spil Bingo Moves to Microgaming -
The national lottery of Denmark, Danske Spil, is live on the Microgaming Bingo Network. Danske Spil, the Danish national lottery, is live on the Microgaming Bingo Network following a change to its licence conditions.
Quickfire live on Strendus -
Quickfire powered by Microgaming is extending its reach in the LatAm region with the signing of Strendus. Strendus is the online division of Logrand Entertainment Group. The group comprises several companies that operate gaming and entertainment establishments in Mexico, running 14 land-based casinos in total.
Quickfire content live on BetatHome -
Online gaming and sports betting company bet-at-home was founded in 1999. Today the company has 4.8 million registered customers around the world, offering sports betting, casino, live casino, Vegas games, poker and virtual sports.
Microgaming has donated £30,000 between four charities -
Gift of Giving provides Microgamingís customers the opportunity to vote for one of several charities in their region. In lieu of Christmas gifts, £30,000 is split equally between four global regions: Isle of Man, UK and Europe, Africa, and Rest of the World.
Entertainment Betting Odds: 90th Academy Awards -
The Shape of Water leads Sundayís 90th Academy Awards (8 PM ET, ABC) with 13 Oscar nominations, but when it comes to Best Picture, this highly-acclaimed film is a +140 second-favorite behind Three Billboards Outside Ebbing, Missouri at Ė115.
Fair Play Bets and QuickFire in Deal -
Fair Play Bets enjoys an unrivalled reputation for an outstanding player experience, with secure deposits and withdrawals, surprising casino bonuses and committed customer support. Fair Play Bets is licensed in UK, Malta and Curacao.
Cavaliers Aim to Take Down Wizards on 2/22/18 -
The Cleveland Cavaliers have looked like a different team since making their moves at the trade deadline. The Washington Wizards are up next for the Cavaliers, who will be at home after the All-Star break.
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