Huge impact on Internet gaming operations
Gibraltar would be 'hit hard' by UK Point of Consumption tax
(Gibraltar).- The UK government's proposed Point of Consumption tax for the online gaming industry 'would hit Gibraltar hard' according to the territory's former chief minister Sir Peter Caruana.
2013-11-19
Reading time 25 seg
(Gibraltar).- The UK government's proposed Point of Consumption tax for the online gaming industry 'would hit Gibraltar hard' according to the territory's former chief minister Sir Peter Caruana.
Caruana said that with about 60 percent of online bets in the UK being placed via Gibraltar-based websites, the 15 percent PoC tax would have a 'huge impact'.
Earlier this year, Chancellor George Osborne announced the decision to implement a PoC tax, which he said would 'level the playing field' with land-based operators. UK betting firm William Hill, whose online operations are based in Gibraltar, responded by saying that it was preparing a legal challenge to the proposal.
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