Results 1 to 12 of 12
  1. #1
    The Buzz's Avatar
    The Buzz is offline GPWA Gossip Hound
    Join Date
    February 2007
    Location
    Newton, MA
    Posts
    3,578
    Thanks
    292
    Thanked 1,487 Times in 900 Posts

    Default UK sets Internet gambling tax at 15 percent

    Reuters is reporting that the UK will levy a 15 percent tax on Internet gambling revenues, which could effectively kill any movement to relocate those businesses from off-shore facilities, where taxes are in the 2-3 percent range.

    http://uk.reuters.com/article/busine...1?pageNumber=1

  2. #2
    villa10 is offline Private Member
    Join Date
    January 2007
    Posts
    188
    Thanks
    9
    Thanked 13 Times in 12 Posts

    Default

    Regulations are always followed with taxes.
    I'm not surprised at all.
    We'll see more ans more of this in many countries.

  3. #3
    matted's Avatar
    matted is offline Public Member
    Join Date
    June 2004
    Location
    Durham, NC
    Posts
    2,685
    Thanks
    118
    Thanked 328 Times in 222 Posts

    Default

    How does that tax rate compared to other industryin the UK?
    Owner, Cognitive Powers, Inc.
    Soon to be ex-webmaster
    Facebook, Twitter, and Linked In

  4. #4
    TheGooner's Avatar
    TheGooner is offline Private Member
    Join Date
    March 2007
    Location
    New Zealand
    Posts
    4,240
    Thanks
    1,937
    Thanked 4,187 Times in 1,993 Posts

    Default

    This is a special levy just for gambling company profits.

    As they say it's exactly the same levy that is currently charged for bookmakers at 15%

    Normal corporate taxes on profits are paid on top of that ...
    so that's VAT at 17.5% and Main rate of 30%

    Effectively thats about 50% of profits going in tax once the 15% special levy is added.

    So you can pay 16-18% if you stay in Gibraltar or Isle of Man ... or 50% if you go to the UK mainland ...

    Which do you think that they will choose ...
    Last edited by TheGooner; 21 March 2007 at 8:10 pm.

  5. #5
    pgaming's Avatar
    pgaming is offline Public Member
    Join Date
    July 2005
    Posts
    2,854
    Thanks
    414
    Thanked 215 Times in 164 Posts

    Thumbs up

    Maybe the extra 15% levy maybe worth paying considering being regulated may add credibility thus profits? From a players perspective I would think this would be good thing.

    Just a thought

    greek39

  6. #6
    villa10 is offline Private Member
    Join Date
    January 2007
    Posts
    188
    Thanks
    9
    Thanked 13 Times in 12 Posts

    Default

    Europe in general is a closed circle for any kind of exportations.
    No matter if you're sending them commodities or online gambling.
    Offshore model will not have too much chances to grow there.

  7. #7
    casinoranking's Avatar
    casinoranking is offline Private Member
    Join Date
    July 2002
    Posts
    1,330
    Thanks
    5
    Thanked 44 Times in 29 Posts

    Default

    15% seems pretty insignificant of a tax to be honest.
    Read about how I made millions from affiliate programs at: http://www.dotaffiliate.com
    Offers rankings of poker hands: http://www.pokerhands.net
    Website for Canadians: http://www.onlinecasinocanada.com

  8. #8
    TheGooner's Avatar
    TheGooner is offline Private Member
    Join Date
    March 2007
    Location
    New Zealand
    Posts
    4,240
    Thanks
    1,937
    Thanked 4,187 Times in 1,993 Posts

    Default

    15% insignificant?
    That's why you're not running the casinos then.


    Gimme 15% off your bottom line - plus the increased 'standard" corporate tax.

  9. #9
    casinoranking's Avatar
    casinoranking is offline Private Member
    Join Date
    July 2002
    Posts
    1,330
    Thanks
    5
    Thanked 44 Times in 29 Posts

    Default

    I just know most land based casinos in Canada pay something closer to 75% plus corporate tax.

    Hence my 15% is insignificant comment.

    But I agree 15% of a lot of money is a lot of money. I can see people avoiding the uk because of this tax, but I can also see some going there for the trust factor, as the trust factor might outweight the loss of 15%.
    Read about how I made millions from affiliate programs at: http://www.dotaffiliate.com
    Offers rankings of poker hands: http://www.pokerhands.net
    Website for Canadians: http://www.onlinecasinocanada.com

  10. #10
    pgaming's Avatar
    pgaming is offline Public Member
    Join Date
    July 2005
    Posts
    2,854
    Thanks
    414
    Thanked 215 Times in 164 Posts

    Thumbs up

    The trust factor with players just may pay for 15% levy?

    sneak39

  11. #11
    codename is offline Public Member
    Join Date
    June 2005
    Location
    Pasig
    Posts
    16
    Thanks
    0
    Thanked 0 Times in 0 Posts

    Default

    this 15% tax will STOP a lot of offshore gambling companies wanting and actually poised to operate in the UK. UK regulatory framework is on the right track but the taxation has to be reconsidered in order to attract operators.

  12. #12
    Nandakishore's Avatar
    Nandakishore is offline In Memorium, 1935-2014
    Join Date
    December 2006
    Location
    In Germany near Munich
    Posts
    2,104
    Blog Entries
    5
    Thanks
    931
    Thanked 496 Times in 367 Posts

    Default

    This is a real surprise to me because I read in telegraph.co.uk a few days earlier that the British Chancellor Brown plans to introduce a 2-3 p.c. Remote Gambling tax to lure offshore gambling companies to get licenses in UK.

    Nandakishore
    Online Casino Newsroom

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •