- Joined
- May 22, 2012
OK, I had this from one affiliate manager today, don't know if this is endemic or just their view?
We have been informed today by EveryMatrix of new regulations regarding the Remote Gaming Duty calculation in the UK market. Despite the fact that this new Finance Bill was passed on November 16th 2017, we were informed of these changes until today, due to not having official guidelines yet.
These changes affect directly the Bonus Costs in the Duty calculation. Previously the Remote Gaming Duty calculation was: 15% * GGY = GGR real money + GGR bonus money - Bonus Costs + Jackpot changes.
However, starting October 1st 2017 (retroactive), the new Duty must be calculated as: 15% * GGY = GGR real money + GGR bonus money + Jackpot changes. Bonus Costs are no longer deductible.
These new taxes will force us to change back our Welcome Bonus to a 100% up to 50 GBP in the first deposit (only in the UK market), in order to reduce operational costs resulting from bonuses.
We will make this change effective until Thursday 25th, in order for everyone with UK sites to have enough time to change it back.
We apologize for these unexpected news, but they all came as a big surprise to us.
First I heard of this?
We have been informed today by EveryMatrix of new regulations regarding the Remote Gaming Duty calculation in the UK market. Despite the fact that this new Finance Bill was passed on November 16th 2017, we were informed of these changes until today, due to not having official guidelines yet.
These changes affect directly the Bonus Costs in the Duty calculation. Previously the Remote Gaming Duty calculation was: 15% * GGY = GGR real money + GGR bonus money - Bonus Costs + Jackpot changes.
However, starting October 1st 2017 (retroactive), the new Duty must be calculated as: 15% * GGY = GGR real money + GGR bonus money + Jackpot changes. Bonus Costs are no longer deductible.
These new taxes will force us to change back our Welcome Bonus to a 100% up to 50 GBP in the first deposit (only in the UK market), in order to reduce operational costs resulting from bonuses.
We will make this change effective until Thursday 25th, in order for everyone with UK sites to have enough time to change it back.
We apologize for these unexpected news, but they all came as a big surprise to us.
First I heard of this?