FT.com reports that despite the likelihood of UK regulation forcing offshore bookies to pay Gross Profits Tax, the whole issue is a melting pot which could boil over and scald a few. The UK Gambling Commission reckons that the best that can be hoped for is some ‘informal consistency’ among EU countries.
“The internet is crawling with unlicensed gambling operators. According to the EU Commission there were 14,800 sites active in the EU at the last count, and over 85 per cent were unlicensed.”
If it proves difficult to enforce GPT, what chance any formal Levy income, at least for as long as that structure lasts?
Full article here.