UK online casino agenda focuses on taxation
The future success of online gambling in the UK will depend on taxation decisions made by the Treasury, according to a leading industry spokesman.
Peter Dean, chairman of the British Gambling Commission, told the Financial Times that he believed a favourable taxation rate was crucial to entice offshore-based operators back to the UK
Doing so would stimulate the UK gambling business in Dean’s opinion and stop the wave of online casinos that currently base themselves in Gibraltar or the Caribbean.
The UK has been making a conscious effort to lure business back to its shores since the British Gambling Act of 2005.
Dean said: “The tax rate must support the new Gambling Act. If foreign online casinos are deterred from entering the UK, many casino fans will be forced to play at sites outside the government’s regulation.
“The responsibility to ensure safe and secure gambling at online casinos for British casino players lies with the Treasury and the government’s Department of Culture, Media and Sport.”