Britain hits offshore gambling industry with 300 million pounds in taxes

“Under rules published on Friday, Britain will tax gambling according to where customers are based rather than where the online operator is registered, meaning that offshore operators pay the same 15% tax rate as domestic companies. The tax will be levied on companies’ gross profit in the 2 billion pound remote-gambling market. ‘It is unacceptable that gambling companies can avoid UK taxes by moving offshore, and the government is taking decisive action to ensure this can no longer happen,’ Economic Secretary to the Treasury Sajid Javid said. ‘These reforms will ensure that remote-gambling operators who have UK customers make a fair contribution to the public finances.'”

http://www.reuters.com/article/2013/08/16/net-us-britain-gambling-levy-idUSBRE97F0D820130816

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