Written by :
Published on :
Sinners in the UK, you’ll have to pay! At least if it is at online casinos and poker rooms where you play.
Internet gambling aficionados find themselves caught up in George Osborne’s budget tax increases.
A new tax will be introduced for Internet gambling that is based on the place of consumption. Previously, that tax was levied on a 'place of supply' basis.
George Osborne UK Chancellor of the Exchequer:
This allowed overseas operators to largely avoid it – and much of the industry has, as result, moved offshore. 90% of online gambling consumed by our citizens is now supplied from outside the UK. And the remaining UK operations are under pressure to leave.
This is clearly not fair – and not a sensible way to support jobs in Britain.
So we intend to introduce a tax regime based on the place of consumption: where the customer is based, not the company.
And from this April we will also introduce double taxation relief for remote gambling.
The so-called “Sin” taxes extend to gambling machines in Great Britain with a standard rate of 20 percent on net takings to be applied.
Alcohol and cigarettes appear to have been spared…at least for now. Tobacco duties will rise 5 percent above inflation however.
- Aaron Goldstein, Gambling911.com
