Casinos.co.uk: Casino News Archive
Friday 14th March 2008
Bingo industry disappointed by budget
The decision in this week's budget not to remove VAT from bingo charges has been met with disappointment from many representatives of the industry.
Bingo players must pay both the both 17.5 per cent VAT and 15 peer cent gross profits tax and the decision by Alistair Darling not to remove the former was described as " a slap in the face for bingo players across the country", by the Bingo Association.
"There is no reason why they should continue to be penalised by double taxation when other gambling products pay only a single tax," said Bingo Association chief executive, Paul Talboys.
"The industry is struggling to deal with the combined impact of double taxation, the removal of gaming machines and the impact of the smoking ban. In the last fourteen months alone some 43 clubs have closed. This lack of action will now ensure further club closures with attendant loss of jobs and decrease in Treasury receipts."
Mr Tallboys said recent studies by the Henley Centre identified 108 bingo clubs across the country at risk of closure, and the profound impact club closures have on players.
"Many described feelings similar to bereavement. Bingo is well known for providing valuable social benefits as well as a safe and affordable pastime, with many clubs at the heart of small communities," the Bingo Association said in a statement.
Source:Direct News
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