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UK to raise tax on offshore gambling

UK to raise tax on offshore gamblingReading Time: 1 minute

 

UK could soon increase the taxes on offshore gambling firms.

Philip Hammond, the Chancellor of the Exchequer, is considering a hike on taxes on offshore gambling firms in his bid to raise approximately €1.13 billion. All overseas companies that operate online casino types of games in the UK will have to pay the higher tax.

A tax hike of 10 per cent – from 15 to 25 per cent – is likely to be included in the next budget. This is ostensibly to compensate for the losses caused by the crackdown on fixed odds betting terminals (FOBTs), where has been reduced from £100 to £2.


Source: Latest News on European Gaming Media Network

George Miller began his career in content marketing before joining the HIPTHER team in 2016 as an Editor and Content Manager. His ability to distill complex regulatory data into newsworthy B2B content led to his appointment as Head of Content in 2017.…

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