The UK’s Taxation Plans Concern Gibraltar

The UK’s Taxation Plans Concern Gibraltar

Written by: Glo Wood on 20/04/2012 16:00

The government in Gibraltar is concerned by the UK government’s plant to tax online gambling operators based on the "Point of Consumption". May casino and bingo operators have be drawn to licensing in Gibraltar due to the minimal taxation requirement.

The gambling business generates a significant amount of income and creates employment opportunities directly as well as may positions within the financial services industry.

According to local reports in Gibraltar, Chief Minister Fabian Picardo, has opened up to the UK Government regarding the hit they Gibraltar would take if a major source of income was affected.

The gaming industry and the government in Gibraltar are preparing to take actions, which may include going the legal route, in an attempt to safeguard their thriving source of income.

Maria Brennan of HM Treasury has reportedly attended discussions while in Gibraltar from the eGaming Summit. The Gaming Minister, Gilbert Licudi, who opened the Summit, says that the changes proposed by the UK government are not necessary. According to Licudi, the UK market is currently protected by Gibraltar's strict licensing and supervision program which is said to be as high, or higher, than in the UK.

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