Tax burden on all freeplays in initial proposal was greater than expected, UK Government says
Following completion of the consultation aimed at bringing the remote gaming tax treatment of free plays in line with the general betting industry, the UK Government has determined the existing proposal will impose greater burdens on remote gaming business than initially expected and has undertaken to revise the draft legislation proposal by applying tax to the first use of freeplays only as opposed to taxing all freeplays.
In addition, based on the consultation suggestion, winnings will also only be brought into the duty calculation at the end of the re-wagering process.
It was further agreed, that games that are free-to-play for all participants, and prizes won playing these games, will be excluded from remote gaming duties.
Revised draft legislation was expected to be published today (Monday) along with a tax information and impact notice.
The new remote gaming duties are expected to be implemented from .
Detailed responses from industry representatives and the UK Government can be accessed here:
Online Casino News Courtesy of Infopowa