Mar 25 - UK Point of Consumption Tax to Alter Gaming Regulations
As part of a New Statesman supplement on Gibraltar, Gibraltar Gaming Commissioner Phil Brear has outlined how the UK Government’s proposed ‘Point of Consumption Tax’ will ‘alter licensing arrangements, regulatory arrangement and tax arrangements’.
Speaking to the Publication, Mr. Brear believes that the UK is attempting to form a gaming hub in the country, which could cause fallout for Gibraltar, which currently acts as one of few centres for the industry.
Mr. Brear’s disagreement with the proposed tax comes from elements in the first draft of the bill, which claim that ‘any piece of gaming technology capable of being used by UK citizens had to be licensed and therefore subject to tax’.
This matter was amended following Mr. Brear’s input into the select committee dealing with the Bill. However, other issues arose, include an issue that would be in American interest that will not require UK licensees to be present in the UK, but instead can be based elsewhere. The Bill will not limit the allowance of licenses to reputable territories such as Gibraltar. The New Statesman claims that there is a plan to ‘fast track organisations already licensed in reputable territories such as Gibraltar to UK licensed status,’ much to Mr. Brear’s dismay.
