Hey guys,
Interesting news in today's budget, with proposals to introduce a new operator tax on online gaming companies. Essentially what is being proposed is operators anywhere in the world will be required to pay gambling duties on gross profits generated from a UK based player pool. Thus, the topic of offshore gambling providers avoiding UK taxation is being addressed. This should in fact make the UK poker market more competitive for players, as firstly the tax is placed on operators, secondly a few operators such as bet365 and Coral have been operating at a disadvantage by opting to maintain UK centric operations. These changes will level the playing field and increase operator competitiveness in the UK poker market and therefore it is unlikely that increased levels of taxation will be passed onto players.
Details will be ironed out in the upcoming Finance Bill, so check this out for legislative changes.
Take care.
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