BACTA outlines tax concerns with HM Treasury
The association told minister Sajid Javid, Economic Secretary to the Treasury, that it is eager to work with the Treasury to simplify rates and demonstrate how a single rate for gaming businesses would be beneficial to the economy.
A BACTA statement confirmed: "We are eager to work with Treasury officials to demonstrate how a 15% top rate for all gambling businesses, including remote, while retaining the relief granted by the 5% MGD rate and certain exceptions, will in fact be revenue neutral for the Exchequer."
The organisation also told Javid that it would like a more transparent sharing of information with the Treasury. "We believe that there is merit in creating a shared industry model as has been done in other sectors, such as with tobacco," it suggested.
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