Share:
Switch to POC tax proposal will go ahead, with planned implementation in December 2014. The proposal complements the existing DCMS bill that will require all operators to tax on revenue generated from UK customers.

In a response to comments by the Parliamentary Select Committee on the Department of Culture Media and Sport’s (DCMS) legislative proposals, the UK Government has reiterated its commitment to introducing a place of consumption (POC) tax on online gaming.

The POC tax proposal is complementary to the recent DCMS Bill which managed, in four simple clauses, to extend the regulatory licensing requirement to all operators who offer gambling or online poker to UK residents.

The UK Treasury is expected to introduce the place of consumption tax in its own bill in time for implementation in December 2014.

The effect of the DCMS Bill is to apply the UK’s Gaming Duty to all operators generating revenues from UK customers. The Treasury Bill will then reduce the scope of Gaming Duty to apply only to those revenues which come from UK customers.

UK based gaming companies such as Bet365 will benefit substantially as they will not be required to pay gaming taxes on revenues from their overseas customers, and puts them on a level playing field with offshore competitors. They will, however, remain liable for UK corporation tax.

Continue reading on pokerfuse PRO »

Get the Full Story

There are 5 more paragraphs in this story to read, available exclusively to pokerfuse PRO subscribers.
Already a subscriber?
» Read the full story.
Not a subscriber yet?
» Find out more and start your subscription today to get instant access.