IsleOfMan.com – UK government plans to impose a new taxation regime for online gambling will leave Island firms facing higher costs and more administration. That’s the verdict of a KPMG report commissioned by the Remote Gambling Association. The UK Treasury last year announced plans to tax online gambling on a place of consumption basis at 15 per cent. At present tax is applied at the source of the bet – where the operator is based. A detailed report on the implications for the industry has just been produced by KPMG’s economics research team. It means Island based e-gaming firms with…

From The Telegraph The film producer and Labour peer said the UK is in “desperate need” of cultural skills and talent, and taking advantage of the boom in placing bets via the internet could aid the industry. “We will need to find new ways to help support the arts,” Lord Puttnam wrote in the Yorkshire Post. “As many of you will be aware, there is enormous growth in the gambling industry, particularly online gambling, perhaps even, to some extent, displacing money spent on our National Lottery. “I would like to think that the proceeds of a point of consumption tax…