U.k. P-o-c Tax Good For Mylotto24 Ltd

No longer bound by duties on business derived outside of the UK from December 1, 2014

Tipp24 SE's London-based MyLotto24 Limited is expecting a significant reduction in expenses when the UK Gambling (Licensing & Advertising) Bill and the ensuing point of consumption (POC) tax comes into force later this year.

The company said its MyLotto24 will no longer be bound by duty on its gross gambling yield derived from business outside of the United Kingdom as of December 1, 2014.

Had the new rules already applied to the gross gambling yield of the past four quarters, consolidated direct costs of operation would have been reduced by Euro 15.5 million with a corresponding positive effect on the EBIT, the company said.

Financial analysts consider a saving of Euro 20 million in 2015 entirely possible as the company's share price leapt almost 30 percent this week.

Online Casino News Courtesy of Infopowa

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The man with the plan here at Casinomeister. Bryan Bailey has been running Casinomeister since its launch in June of 1998. He has watched the industry grow from its primeval stage to what it is now. The Meister has attended nearly 100 conferences in the past 20 years and has either been a speaker or a panel moderator for at least 60 events. He has always been an advocate of fairness and reason and is known to like German beer, a good Scotch, and astrophography.
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