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Taxation for Offshore Sites

The previous UK government that just left office was in the process of making a serious overhaul of the UK regulations and online casino gambling policies that make up the UK Gambling Act. It is a big relief to those within the industry that the new government is also focused on creating a more fair UK market that also provides incentives for UK licensed online casinos to keep their operations within the UK and not head to the more remote and less taxed offshore licensing jurisdictions. A recent seminar was launched by GTECH G2 to address the discrepancies that currently exist in the UK laws that are forcing UK gambling companies to leave and the Seminar took into consideration the findings of the Remote Gaming Review.

The Review was designed as a way to assess and look at the changes necessary in the UK to better support those programs and industries that are boosted by taxation on online casinos while also spreading that burden to non-UK licensed sites as well. Only UK licensed gambling sites were contributing to that pool of money which made the tax burden incredibly difficult for the gaming sites to remain profitable. The UK has some thoughts about licensing, or at least registration of the offshore sites that are accessing the market and asking these sites to contribute a certain percentage in additional taxes to operate within the market.

The UK government has far from finalized the changes, and there are no even final drafts of new online casino gambling regulations, but the process has been started and the lines of communication are open. The UK has informed all of these offshore and domestic companies of the basic changes that the UK government anticipates making as a heads up right now.