Industry rumour that the UK government may be considering its tax options on offshore Internet gambling companies which advertise and benefit from betting by UK punters took on more substance this week when an official from HM Revenues and Customs confirmed that research was being done on the subject.

Earlier this year there were complaints from horseracing officials that offshore companies were benefitting from the UK market without paying levies (see previous InfoPowa report), fuelling speculation that UK betting companies may have urged government to level the playing field. This was linked to fears that major UK groups may be contemplating a move offshore to better compete in a more benevolent tax climate.

The announcement that the UK government's advertising white list would not accept any further licensing jurisdictions whilst the Gambling Act was being reviewed also caused some alarm.

This week a spokesman for HM Revenues and Customs told EGR: “Although HMRC is currently looking at the tax issues involved with a view to identifying the risks to UK taxes resulting from the locations offshore, no specialist unit has been set up.”

All News Categories

Most Viewed Articles

See all

Related News

Join today and start earning rewards

You will immediately get full access to our online casino forum/chat plus receive our newsletter with news & exclusive bonuses every month.
S logo

Report to moderator

Use this function to inform the moderators and administrator of an abusive or wrongly posted message.

Please note that your email address will be revealed to the moderators if you use this

Select Language
Search
Search Results
39012170