UK BUDGET Remote Gaming Duty set at 15 pct; top rate increased to 50 pct |
|
|
|
Published
:
Wed, 21 Mar 2007 15:26
|
LONDON (AFX) - The rate for the new 'Remote Gaming Duty' for online gaming firms has been set at 15 pct, in line with the rate of General Betting Duty, Chancellor Gordon Brown said in his Budget speech.The news will come as a disappointment to the industry, which had hoped the new levy would be as low as 2-3 pct, thereby encouraging firms based in offshore tax havens such as Gibraltar to relocate back to the UK.The government has also announced changes to Gaming Duty brands and rates. The changes increase the effective rate of duty on the majority of casinos to 15 pct, in line with the rate applied to other parts of betting and gaming.A new top rate of 50 pct has been introduced to ensure that 'this vibrant and expanding sector continues to make a fair contribution to tax receipts'.newsdesk@afxnews.commsc/amCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
|
|
|
|
Print this Story
UK's Brown set to outline Budget plans for online gambling - report 