Deprecated: mysql_connect(): The mysql extension is deprecated and will be removed in the future: use mysqli or PDO instead in /home3/shredo12/public_html/worldcasinoyellowpages/inc/connect.php on line 3
Online gambling companies want to evade tax - MPs | 14 February 2013 : WorldCasinoYellowPages

Online gambling companies want to evade tax - MPs

... 14 February 2013

Online gambling companies want to evade tax - MPs

Many gambling concerns of the UK have moved their internet activities from the state to the white-list regions like Isle of Man, Antigua and Alderney; expressed Clive Hawkswood - the president of the Remote Gambling Association who was there at a parliamentary consideration in London on Tuesday to discuss the hot issue of the anticipated 15% point of utilization tax by the UK Treasury for the UK-facing internet gambling companies. Hawkswood was challenged by the members of the Culture, Media and Sport Select Committee. They questioned him against the stand of the gambling firms who opposed the planned Gambling (Licensing and Advertising) Bill that makes it mandatory for the UK-facing firms to have a license from the Gambling Commission that empowers the Treasury to impose the 15% tax that would be effective from December, the next year, i.e. 2014.

It was submitted by the worthy MPs that the sole purpose of the gambling companies was just to evade the imposition of tax and that is the reason of their opposition. The case of Starbucks was quoted by few MPs who said that the said coffee tycoon had paid a meager amount of just £9m towards the corporation tax during the past fourteen years. They referred to the case of Bet365, the Stoke-based concern that had preferred to remain in the UK as far as its online activities are concerned. Bet365 has struggled hard to turn all the circumstances and related aspects into profit, they said. To this Hawkswood expressed that the said company could prove its worthy under a state that imposes less taxes. He was quick to say that the companies related with the internet gambling activities considered that the 15% tax could just kill them completely. He added that such concerns are not fully UK-facing and being the global concerns they preferred to go in for the best suited commercial bases for their activities.  

The black and white statements of the prominent concerns like William Hill were recorded by the Committee. The former, i.e. Hills was there to say that the rate of five percent could be the better option whereas the tax rate of 5 to 8 percent was suggested by Paddy. The Gibraltar Betting and Gaming Association (GBGA) was hot to say that Gibraltar would prefer to go in for a legal action in case the proposed law becomes a reality. The GBGA through its suit would charge the UK for turning the things into their favor for their own benefit in the shape of enhanced taxes that do not fall in line with the EU diktats. Gibraltar’s twelve percent working populace in fact depends upon the internet gambling activities as far as their daily bread and butter is concerned. The state may have to suffer badly like Antigua that has been affected adversely due to the protectionist steps by the UK that does not consider the things in the right perspective and takes just the odd decisions that would have negative impact both upon the consumers and the industry too, says the GBGA. Gibraltar considers that the proposed law of the UK would not create any positive results. Moreover the UK clients would prefer the online options that are available at reasonable costs in the regions that are not compelled to accept the taxes of UK and their legislators’ guidelines. Suggestions and verifications by the members of the Gambling Commission and Department for Culture, Media and Sport would be made available to the Committee on 12th Feb.

Players Comments
  • No Comment Found
 
You need to Login or Signup to comment
Latest Happenings
  • 254 Visitors in last 24 hours
  • 265 players grab exclusive bonus
  • 26 players playing Free Classic Slots
  • 265 players grab exclusive bonus
  • 97 New posts
  • 36 New Member
  • 168 Players Playing at gaming club casino