Key Takeaways
- The UK Treasury has confirmed that the new POC tax rate will be 15% of gross gaming revenue.
- In the draft bill attached to their response to the public consultation they provide the UKGC with powers to regulated how player funds are held.
- Costs of the new tax are expected to be passed on by lower marketing and promotional costs rather than through higher prices.
- Location verification requirements will be limited to using residential addresses.
The UK Treasury has published its response to a consultation on the planned “point of consumption” gambling tax expected to be introduced at the end of the year.
It has also published the first draft of the new legislation. A final draft will be produced this year, followed by a last consultation process before being introduced.
