UK Gov: Offshore gaming tax to bring in £300m

Online sportsbook news and iGaming news

The UK Government plans to impose a 15% tax on betting companies that cater to UK clients but base their headquarters in countries known to be tax havens. From December 2014 onward gambling operators will be subject to taxation based on where their users are located, not in fact where their operations are rooted.

It has been speculated by those in the government circles that the tax could be responsible for raking in as much as £300 million.

The government intends to confirm the plan during the March 2013 budget statement.

Industry figures already had the levy on their radar.

Clive Hawkswood, Remote Gambling Association CEO said the following to the Guardian newspaper: “We knew it was coming. The focus for us now is on trying to get the actual rate of the tax reduced.”

SBR will update when the tax goes live.

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