UK POC Gambling Tax passes Royal Assent stage

Thursday May 15,2014 : NEW POINT-OF-CONSUMPTION ONLINE BETTING TAX GETS ROYAL ASSENT
 
Another stage passed as bill progresses to full implementation.
 
The British government's bill requiring all online gambling operators accessing the UK punter to take out licensing with the Gambling Commission and pay British taxes has successfully passed the Royal Assent stage and now moves closer to implementation.
 
Operators seeking to comply with the UK Gambling (Licensing and Advertising) Bill have had online access to the requisite application facilities since February this year.
 
The controversial bill imposes a 15 percent tax rate on registered and licensed online operators, but carries additional expenses for internet bookmaking companies in the shape of contributions to the British horse racing levy in respect of bets taken from UK punters.
 
Serious punitive measures exist for operators who access the UK market without the necessary licensing once the full system comes into effect in December this year.