Below was from today's
Gaming Investments. (For those of you who don't subscribe to this, you should).
Gordon Brown's whopping 15% is PROPOSED taxation to UK Online Gaming Companies. Its not certain. Its
Proposed. Now the UK Companies need to pay up some lobbying dollars to knock the number down.
Its not a wise move on behalf of the UK Government. With Spain, Italy and other nations opening up online licensing, online gaming firms will move where there is the least taxation. The only catch is that as of September, you will need to have a gaming license in the UK to advertise online gaming within the United Kingdom.
Webmaster
StartCasino.com
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Reprinted courtesy of
Gaming Invesments
BRITAIN STICKS IT TO GAMERS
Apparently, United Kingdom Chancellor Gordon Brown has been to the Gov. Blagojevich School of Taxation, and the effect could chill gaming company ambitions.
Gamers found their bubbles burst Wednesday as Brown, expected to
propose friendly taxes to encourage industry growth, did the opposite.
Instead of a casino gaming tax of 20 to 25 percent, he proposed a graduated tax topping out at 50 percent. Rank immediately said such a tax would wipe out 20 percent of its profits, Reuters reported.
And some observers warned that companies planning to build the 17 big casinos allowed under Britain’s new gaming laws might not.
Nor did Brown do favors for the Internet industry. Rather than the expected 2 or 3 percent tax intended to lure British operators back home, Brown proposed the same 15 percent that casinos pay.
Combined with the valued-added tax and corporate taxes, the new levy means that UK operators would not be competitive with I-gamers operating out of Gibraltar, Malta and other locations, gamers warned.
