Online Gambling To Get A Leg Up In The UK
Chancellor of the Exchequer Gordon Brown will reveal a plan in his budget
next month to encourage the online gambling industry, according to published
reports.
He will use the 21 March budget to announce that companies could obtain a
British licence and still remain based overseas in return for a tax --
possibly as low as 2 per cent or 3 per cent, the Daily Telegraph said on
Friday in an unsourced report. Named a Remote Gaming Duty, the new tax would
enable gambling firms to avoid paying VAT, the newspaper said. A comment was
not immediately available from HM Treasury. Internet gaming groups will be
able to relocate to Britain and obtain a licence in September under the
Gambling Act, the newspaper said. Such companies, however, have said they
would decline the chance if it meant paying a tax on gross wins, it added.
next month to encourage the online gambling industry, according to published
reports.
He will use the 21 March budget to announce that companies could obtain a
British licence and still remain based overseas in return for a tax --
possibly as low as 2 per cent or 3 per cent, the Daily Telegraph said on
Friday in an unsourced report. Named a Remote Gaming Duty, the new tax would
enable gambling firms to avoid paying VAT, the newspaper said. A comment was
not immediately available from HM Treasury. Internet gaming groups will be
able to relocate to Britain and obtain a licence in September under the
Gambling Act, the newspaper said. Such companies, however, have said they
would decline the chance if it meant paying a tax on gross wins, it added.
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