Online gambling to get a leg up in UK?
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Reuters
<!-- Story Author, SOURCE END --> <!-- Story body BEGIN --> 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.
Story Copyright © 2007 Reuters Limited. All rights reserved.
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Wonder if they'll defend the industry they already have, too?
<!-- Story TITLE END --> <!-- Story Author, SOURCE BEGIN -->
Reuters
<!-- Story Author, SOURCE END --> <!-- Story body BEGIN --> 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.
Story Copyright © 2007 Reuters Limited. All rights reserved.
**************
Wonder if they'll defend the industry they already have, too?
