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Tax Changes for UK Online Gambling
TAX CHANGES AHEAD FOR U.K. ONLINE GAMBLING
Draft legislation aims to level the online - retail tax playing field.
Draft legislation has been prepared by the UK government proposing tax treatment changes to the country’s online gaming industry designed to bring it in line with fixed-odds general betting, according to a report in Bloomberg business news.
Her Majesty’s Revenue and Customs has indicated in an August 9 consultation that it intends to remove the current tax imbalances between the two industries by making online gaming companies pay taxes in the same way as betting companies do on free plays that they offer to customers.
London analysts have opined that online gambling operators have hitherto enjoyed "more generous tax treatment" from the government, and that the proposals are a clear attempt to "level the playing field" with the gaming and betting industry. As a result, some operators may find it necessary to offer better winning opportunities instead of free-plays, one suggested.
Online gaming is subject to the U.K.’s 15 percent on profit remote gambling tax, while fixed-odds betting and pooled bets on horses and dog racing are subject to general betting tax. Free plays, such as free spins in bingo, are omitted in tax calculations for online gaming companies, but are included for betting companies under general betting duty.
From August 2017, free plays from online gaming companies will have a taxable value for tax purposes under the remote gambling tax, HMRC has proposed..
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Gambling News :
Anti Gambling bill S. 3376 -
#s3376 Industry observers were taken by surprise late Friday when a little-known Republican Senator from Arkansas, Tom Cotton, filed the beginnings of a new bill in the US Senate Committee on the Judiciary in what appears to be a move to toughen the US legal stance on the Unlawful Internet Gaming Enforcement Act of 2006 and possibly the 1961 Wire Act.
2016 WPT Borgata Main Event Results -
@MrJesseJames888 Four years ago the poker world watched as Jesse Sylvia and Greg Merson fought it out in the heads up of the World Series of Poker main event, with Sylvia narrowly defeated but taking home a second placing pay check for $5,292,889.
G-Sports debuts with the game Road Redemption -
#esports Land, online and mobile gambling publisher Gamblit Gaming has debuted in the burgeoning eSports sector, unveiling its new eSports platform branded G-Sports with the hit PC and console game Road Redemption.
French licensed gambling operators lost $5M in 2015 -
#france Numbers released by the French online gambling regulator ARJEL have illustrated the continued folly of a ring-fenced and restricted online gambling market saddled with a harsh and operator-unfriendly tax regime.
NO PRIVATISATION FOR ONTARIO LOTTERY -
The privatisation of the Ontario provincial lottery will not go ahead despite proposals by major companies like IGT-GTech, Scientific Games and Rogers Communications submitted in response to the provincial government’s 2014 Request for Proposals.
Space Invaders wins Best Slot Product Award -
The growing emphasis on skill-based slot machines that are more appealing to the millennial demographic has seen Scientific Games awarded a Best Slot accolade for its Space Invaders game at the 2016 Gaming and Technology Awards.
NEW MARKETING CAMPAIGN FROM LADBROKES -
The Ladbrokes land and online gambling group has launched its latest marketing campaign, with the first television advertisements ready to screen this Saturday.
Gamesys acquires Snowcat Games -
London online gambling provider Gamesys has announced the acquisition of Estonian online gambling games developer Snowcat Games for an undisclosed consideration, noting that the deal will strengthen its development capabilities.
BetConstruct adds virtual sports products -
The Golden Race package includes premium virtual content including; football, tennis, Real MMA Fighting, horse and greyhound racing, along with lotto and keno games content.
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