Argo Commissioned Report Warns On UK Tax
Published: Friday, March 25, 2005 Online-Casinos.com
ARGO COMMISSIONED REPORT WARNS ON UK TAX
"Little or no incentive" in present gambling tax proposals
Europe Economics, a London-based independent economics consultancy, issued a warning to the HM Treasury this week on proposed tax liabilities for UK online gambling companies under the new Gambling Bill.
The report, commissioned by the Association of Remote Gambling Operators (ARGO), states that unless a way is found to reduce the potential tax liabilities for online gaming operators, there is little or no incentive for any of the major players to locate in Britain when the Gambling Bill comes into force.
The report concludes that the Government needs to adopt regulations that are effective, proportionate and targeted; and recognise that taxes substantially influence the location decisions of operators and therefore the effectiveness of any regulations.
"There is intense international competition between remote gambling operators based in any number of other viable low-tax jurisdictions," explained the report's author, John Spicer, "Against that background, the Government should be careful not to price the UK out of the market."
ARGO Chairman, Ian Spearing (William Hill), added: "This report is an important piece of work that we hope will set the scene for further discussions with HM Treasury about the future tax regime. Quite simply, Britain could have the best gambling legislation and regulation in the world, but it will be to no effect if the tax regime acts as a fundamental disincentive for gambling operators to be based in this country."
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