Antigua Directors Says No One Is Leaving
Published: Friday, March 25, 2005 Online-Casinos.com
ANTIGUA DIRECTOR SAYS NO ONE IS LEAVING
New tax measures still give
advantage to companies
Reports this week in the Antiguan press that suggested
new taxes might have precipitated the departure of an online gambling group were
denied by Director of Off-Shore Gaming Kay McDonald.
"We still have
an advantage in this country for gaming companies because there is no corporate
tax," she asserted in dismissing a front-page report that companies were
leaving because the Antigua jurisdiction was no longer an attractive tax jurisdiction.
"Also gaming companies pay out dividends and these dividends are not going
to be taxed," she continued. "Under the income tax act, dividends are
among revenue areas that are exempt from the new measure.
McDonald downplayed
the information in the press report that an offshore company was reported to have
signed off on a license to set up business in Khanawake in the Quebec province
of Canada.
Discussing the state of affairs in the industry in relation
to the pending income tax, spokesperson of the AOGA and McDonald's predecessor
Ron Maginley said members of the industry felt "...the tax rate proposed
by the government, may remove the cost benefit of conducting some portions of
operations within Antigua."
Parliament is currently debating the
new tax measures.
