Tag: UK Online Gambling Tax
Changing U.K. Online Gambling Tax Creating Tension
Online-Casinos – In Europe and the United Kingdom there is a battle developing between the government of the U.K and online gambling operators located in some offshore jurisdiction that offers their services to punters in the U.K. The government of the United Kingdom has decided that they will impose a new tax regime on operators that offer services to punters there no matter where the operators are located. Currently the U.K. online gambling market is worth over £2 billion a year, and the government wants to bring in another £300 million through the new gambling rules. Operators will have to…
Online Gambling To Pay 15% UK Tax
Sky News – Online betting companies based in offshore havens to sidestep Britain’s gambling taxes will be hit with a new levy that may raise £300m for the taxpayer. The Government is to impose a 15% tax rate on operators in the £2bn remote gambling market. The rules state that from December 2014 gambling must be taxed according to where customers are based rather than where the online operator is registered. “It is unacceptable that gambling companies can avoid UK taxes by moving offshore, and the Government is taking decisive action to ensure this can no longer happen,” Economic Secretary…