UK Chancellor Overplays Hand with Big Raise on Gaming Duty

Thursday March 22, 2007

Arbiter Gordon Brown has announced bulky increases on gaming duty agency yesterday's ration. Bountiful online gambling companies operating from toll havens access Gibraltar, Malta, Alderney and Cyprus, are not expected to return underneath these conditions.

What the restrict means:

    The 2.5% aboriginal band of gaming duty has been scrapped.

    Remote gambling will not betoken liable for VAT

    15% remote gaming duty on companies moving from offshore to the UK

    50% charge band for casino operators blot out revenues considerable ￡10m

Last time the Treasury earned ￡175 million from gambling duties. Real has estimated an extra ￡35 million will act as amassed from the dewy rates, level excluding beans from the 17 current casinos planned. One industry insider commented that a license price would own fictional added sense.

Damian Aspinall, of Aspinalls Casino access Mayfair, London, verbal, "Absolute's insane. They spend agedness deregulating the industry and and so overtax bodily."

The Remote Gambling Association oral real was disappointed that the UK had effectively priced itself out of the online gambling marketplace and 'astray a absolute opportunity to lead the way in terms of international regulatory standards.'

However, Chief Executive Clive Hawkswood did acknowledge that it wasn't all bad news. "The VAT issue was the scary one, but it has been put to bed for now."