Gibraltar
operators seem to be extremely disadvantaged by the recent proposal made by UK
regulators, who proposed a 15 percent tax on both UK gaming and betting
companies and Gibraltar based gambling operators. At this point in time, the
tax regime on gambling operations in Gibraltar is set to 1 percent, making this
region the perfect place for operators who want to find out how start online casinos or maintain a
profitable gambling business venture.
By passing
this proposal into law, Gibraltar operators will not only be asked to pay the
15 percent tax on gross gaming they revenues, but will also be required to
apply for a license from the British gambling regulatory body. At this moment,
no less than 60 percent of bets placed at gaming and betting sites in UK are
made through sites registered in Gibraltar. Operators are commenting that this
new proposal will influence their businesses in a negative way and will
decrease their profits significantly.
Furthermore,
the operational costs of gambling activities in Gibraltar will also be
influenced by levies applied on marketing services, like advertising, which are
currently not taxed by the gambling regulator. Several world-renowned
bookmakers moved their operations to Gibraltar in order to reduce costs which
rise to $30 million per year, but considering the new proposed regulatory
changes, operators will have to reevaluate their business strategies.
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