Casinos.co.uk: Casino News Archive
Thursday 26th January 2006
Taxation High on UK Online Casino Agenda
Peter Dean, Chairman of the British Gambling Commission, is claiming that the future success of online casinos in the UK depends hugely on taxation decisions made by Treasury. Speaking to the Financial Times, Dean suggested that setting a favourable taxation rate was crucial to entice offshore-based operators back to the UK, thereby stimulating the growth of the business within Britain.
Many online casinos currently base themselves in Gibraltar or the Caribbean, however since the British Gambling Act of 2005, the UK has been keen to bring lost business back to its shores.
Dean told the Financial Times, “The tax rate must support the new Gambling Act. If foreign online casinos are deterred from entering the UK, many casino fans will be forced to play at sites outside the government’s regulation. The responsibility to ensure safe and secure gambling at online casinos for British casino players lies with the Treasury and the government’s Department of Culture, Media and Sport.”
Source:OnlineCasinoNews
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