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FAST MOVE ON UK OFFSHORE INTERNET GAMBLING TAX

Monday July 18, 2011 : Parliamentary announcement squeezed into Monday's House of Commons schedule
 
The UK government appears to be moving quickly on its previously announced intention to impose secondary licensing - and taxation - on offshore internet gambling companies accessing the British market.
 
According to reports in The Guardian newspaper over the weekend, a slot for an announcement on the tax implications has been squeezed into the House of Commons schedule for Monday, and whilst he is not expected to delve into too much detail, it is anticipated that Chancellor of the Exchequer,  George Osborne, will start the ball rolling on a process leading to formal regulations and tax plans.
 
The British parliament is about to adjourn for its summer recess.
 
Offshore operators pay no UK tax, while onshore gambling companies pay 15 percent gross profits tax plus corporation tax
 
Last week a minister in the DCMS, John Penrose, announced that every betting company offering wagers to British punters will have to obtain a UK licence – news that was widely seen as a precursor to the UK beginning to tax offshore operators.
 
One industry observer noted: "The statement will mean that this will be part of Treasury legislation. There is going to have to be a level of consultation in all of this."
 
The Guardian opines that there are a range of new taxation options open to the Treasury, which include simply imposing the 15 percent rate on offshore operators dealing with UK punters.
 
However, the leading high-street bookmakers are almost certain to lobby for a drop in the gross profits tax to about 10 percent, arguing that the duty would also catch rivals who currently pay nothing. One unnamed top high-street betting chain told the newspaper privately that such a regime could see it return its offshore internet operations to the UK.



Gambling News :

Live Dealer Now At Slotocash - Live Dealer can be found in the left navigation menu under 'Live Dealer' when you, the player is logged in to instant play.

Advantages of online slots over slot machines - The rise of online casinos means that players no longer have to leave their own house to play casino games.

Betradar Launches US Sports Betting Solutions - With only a few weeks to go until the betting and gambling world descends on ICE in London, Betradar have today announced that they will be launching a comprehensive range of tools and services to any company that will be looking to provide sports betting in a post-PASPA United States.

Abdelaouhab Zizi Wins MPNPT Morocco Main Event - Abdelaouhab Zizi has defeated fellow Casablanca resident Fadhil Farag heads up to win the 2018 MPN Poker Tour Morocco Main Event and MAD 375,000 (c. €33,220) after a two-way deal.

Final 12 For MPNPT Morocco - Sunday on the MPN Poker Tour Morocco will see several trophies awarded at the Mazagan Beach Resort, with the largest going to the Main Event champion along with a prize of MAD 400,000 (c.€35,400).

MPNPT Morocco Updates - Leading the 104 combined survivors from both flights is still Said El-Yousfi with 272,000 chips; visit the MPN Poker Tour blog for an end-of-day recap and full chip counts.

MPN Poker Tour Morocco Day 1A - The MPN Poker Tour has returned to Morocco this week (January 11-14), featuring the MAD 1.5 million guaranteed Main Event, accompanying side events, and the activities and parties for which this tour has now become known on two continents.

2018 MPN Poker Classic - The MPN announces the return of The Classic tournament series this January. The series is back following its successful €350,000 guaranteed debut in 2017. This time €500,000 is guaranteed, along with a once in a lifetime trip to Monaco for the Classic Champion.

PDC and Sportradar Renew Deal - Following this month’s hugely successful World Championship, the Professional Darts Corporation (PDC) and long-standing partners Sportradar have renewed their multi-faceted cooperation that will see the leader in sports data and content continuing in their role as official data

Poker Yaar Joins MPN - Available through download, instant play and mobile, Pokeryaar.com is live with Omaha, Hold’em and Five-Card poker variants, alongside MPN’s Fish Party, the industry’s only progressive jackpot SNGs.

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