Good News For I.O.M. Online Gambling Firms
Published: Tuesday, November 28, 2006 Online-Casinos.com
GOOD NEWS FOR ISLE OF MAN ONLINE GAMBLING FIRMS
Tax reductions are always welcome....
CEOs, finance directors and shareholders in online gambling companies registered and licensed by the Isle of Man will be celebrating a long anticipated reduction in an already benevolent tax structure this week.
The Isle of Man government brought its basic duty for online gaming into line with betting on a sliding scale. The main change in the duty model is a reduction from 2.5 percent to 1.5 percent in the starting rate. Duty payable on gross gaming yield below GBP20 million per annum will be 1.5 percent, 0.5 percent for between GBP20 million and 40 million per annum and 0.1 percent for annual gross gaming yield over GBP40 million.
The tax-friendly island in the Irish Sea between England and Ireland offers gaming companies a highly sophisticated finance and communications infrastructure and a well educated workforce, all situated in the geographic centre of European business.
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