UK Tax High on Gambling Agenda

The future success of internet casinos within the UK depends largely on what taxation decisions are made by the treasury in the coming months. Chairman of the British Gambling commission, Peter Dean has suggested that setting a favourable taxation rate was crucial to lure operators currently based offshore back to British shores. This would stimulate the growth of the online gaming industry within the UK.

Many of the online casinos promoted here on are currently based in tax havens such as Gibraltar or the Caribbean. The Gambling act of 2005 and subsequent UK government discussions have been centred on tempting these lucrative businesses back to the UK by providing a more favourable tax climate in which they can operate.

In the Financial Times yesterday Dean claimed, “The tax rate must support the new Gambling Act. If foreign online casinos are deterred from entering the UK, many casino fans will be forced to play at sites outside the government’s regulation. The responsibility to ensure safe and secure gambling at online casinos for British players lies with the Treasury and the governments Department of Culture, Media and Sport.”

Source: - 2006-01-27 11:21:36

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