The online casino specialists at Super Casino have shared their thoughts on the news that offshore internet gambling firms used by UK residents are to be hit with a new levy.
It has been reported by Sky News that under new rules, from December 2014 the UK government is to impose a 15% tax rate on operators in the £2billion remote gambling market. The biggest change is that gambling must be taxed according to where customers are based as opposed to where the online operator is registered. The proposed rate will be confirmed in next March’s Budget statement, and would mean that off shore operators would be required to pay the same amount as domestic internet betting companies. It has already been estimated that the increase will bring in £300million a year in additional tax revenue.
According to the Gambling Commission, the estimated worldwide remote gross gambling yield (GGY), excluding telephone betting, rose from 5% to £21.08 billion during 2012.
Renowned for bringing a realistic casino experience to online and mobile customers, the industry experts behind Super Casino are dedicated to providing a safe and secure gaming environment. Dedicated to researching the latest industry updates and developments, a representative from the firm shares their comments on the subject.
“It will be interesting to see how this tax increase affects the industry. Whilst those operating offshore may struggle, it could bring extra customers to those currently operating within the UK. We’ll be interested to see if this rate of 15% is confirmed next year.”
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