Offshore Online Gambling Operators May Have to Pay Taxes in UK

Offshore online gambling operators in the United Kingdom may eventually be forced to pay taxes and acquire additional gambling licenses in the UK.  This could be the case if the British government manages to make this proposal legal.  The reason this additional licensing and taxation is desired is due to the government’s yearly significant decrease in gambling profit.  It is estimated that as much as £300 million is lost every year.

A draft bill has already been readied by Tory MP Matt Hancock.  The bill involves taxing the location of the online gambler and not the location of the operator’s servers.  It is thought that this will help permanently put a stop to the onshore verse offshore issue.  Should Hancock’s bill ever reach the committee stage, while amendments will be made, the ministry has said it will support the bill.

Also, the National casino Industry Forum wants online casinos to have higher taxes so that what they pay will match the amount land based casinos must pay.