UK Point Of Consumption Tax On Gambling
4/19/2012 : THE ROCK MULLS OPTIONS ON UK POC TAX AND SECONDARY LICENCING
Legal action not out of the question
The British Government's plan to implement a "Point of Consumption" tax on online gambling operators understandably has the Gibraltar Government concerned says a report appearing in the Gibraltar Chronicle.
Gibraltar's gaming industry provides a key income stream to the territory and provides employment to close to 2200 as well as an additional 3000 jobs to citizens in financial services.
Chief Minister Fabian Picardo has reportedly reminded the British Government of the liability it would face if one of Gibraltar's key income streams is slashed.
The report says that leading figures of Gibraltar's gaming industry, with the support of the territory's Government, are taking steps that may include legal action in a bid to protect Gibraltar's gaming industry.
Maria Brennan of HM Treasury is reported to be in Gibraltar for discussions around the issue while attending the eGaming Summit opened this week.
Gaming Minister Gilbert Licudi, who opened the Summit, has openly opposed any move regarding the implementation of a British secondary licence for Gibraltar-licenced operators servicing the UK market saying they are already protected by Gibraltar’s strict licensing and supervision regime, “our regulation is second to none, it is as high, or higher, than in the UK,” he said earlier this year.