U.K. to Tax Online Gambling Operators

February 21, 2012 - by CasinoNews · Filed Under News    Leave a Comment 

TheUnited Kingdom, has for some time, been attempting to come up with a way to get offshore internet-based gambling operators to pay taxes. So far, the government has calculated the amount of money lost from off-shore gambling operators’ failure to pay taxes, as roughly £300 million annually. It looks like the government is tired of missing out on what would qualify as a significant amount of money and are planning to do something about it.

Many gambling operators believe that such a tax and the requirement that they get a secondary license would cut into revenues. Those that are based inEngland, are, however, all for it. Many believe that having to pay taxes when their offshore counterparts do not, puts them at a disadvantage and makes it harder for them to compete.

A bill that would require offshore gambling operators to pay taxes has already been written, or at least a draft bill has been. In the bill, taxes would be based on where the gambler using the particular website is located and not the gambling site’s servers, making it possible for the government to fairly tax everyone, not only those that are based in the country. It helps to even the playing field a bit.

Source:casinoadvisor.com

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