UK Tightening Online Gambling Tax Laws
Wednesday, April 20th, 2011 - Emily W
The UK Gambling Commission has been considering revising its taxes regulations for operators for quite some time, but the idea has been delayed to months. Now, the government is actively looking for a way to close the loophole that allows online bingo and other online gaming operators to offering their services from abroad without paying taxes to the UK.
Currently, the UK charges 15% tax on to all online gaming operators. Some companies felt that the tax rate was too high and decided to leave the country in search of lower tax rates. William Hill and Ladbrokes, two of the nation’s biggest brands, are two such countries that made the leap.
This left the UK with a large hole in its source of tax revenue and government officials decided to finally find a solution to the problem. However, rather than reducing its online gambling tax laws, the UK is taking a different approach.
Soon, companies based in other countries that wish to offer their services to UK resident will have to obtain a UK license in addition to the one they have obtain in their own country. This will close the loop that Ladbrokes and William Hill slipped through, allowing for the UK to regain some of its lost tax revenue, which can be applied to healthcare, education and other social programs.
You must be over 18 years of age to register and to place a bet. The company reserves the right to ask for proof of age from any customer and customer accounts may be suspended until satisfactory proof of age is provided.
St Minver Limited is licensed by the Gibraltar Licensing Authority and regulated by the Gibraltar Regulatory Authority under the 'Gambling Act 2005'.