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Tax News

Victoria to raise point of consumption tax for betting operators

The Australian state of Victoria is expected to introduce new legislation to increase the point of consumption tax (POCT) paid by sports betting operators.

The state government plans to increase the tax rate from 8 per cent to 10 per cent of net wagering revenue from 1 July, bringing Victoria into [...]

1 min read
Playtech

Playtech to switch tax residency to UK

London-listed gaming operator and technology supplier Playtech is proposing to switch its tax residency from the Isle of Man to the United Kingdom.

The board of Playtech has called a general meeting of the company on 18 December to consider the move, which will enable it to hold board and shareholder [...]

1 min read

New bill introduced to repeal federal sports betting tax

New bipartisan legislation has been introduced in Congress to repeal the excise tax applicable to all legal sports bets in the United States.

Representatives Dina Titus and Guy Reschenthaler, co-chairs of the Congressional Gaming Caucus, introduced the legislation Friday to repeal the 0.25 per cent excise tax on all legal sports [...]

1 min read
GVC Holdings

HMRC widens scope of investigation into GVC’s former Turkish business

The UK’s HM Revenue & Customs tax authority has widened the scope of its investigation into GVC’s former Turkish facing online gambling business.

Last November, a subsidiary of GVC received an order to provide information to HMRC relating to the group's former Turkish online gambling business, which was sold by GVC [...]

1 min read
Netherlands

Netherlands releases technical requirements for online gambling monitoring

The Netherlands has submitted draft legislation to the European Commission setting out the technical requirements for connecting online gambling systems to the new Control Data Bank (CDB) that will be used by authorities for monitoring and verification purposes.

The legislation will allow operators to prepare their applications for the Netherlands licensing [...]

1 min read
Italy

Italy introduces temporary sports betting tax

The Italian government has introduced a temporary betting tax to generate funds for sports that have been impacted by the COVID-19 shutdown.

The government aims to raise €90m from the 0.5 per cent tax on sports betting stakes, which applies to all channels and includes betting on virtual sports.

The new tax [...]

1 min read

GVC Holdings to seek VAT rebate of up to £200m

London-listed gaming operator GVC Holdings has added its name to the list of gaming companies seeking a refund from UK tax authority HMRC in relation to incorrectly charged value-added tax (VAT).

GVC said Thursday that it could benefit from a refund of approximately £200m of historic VAT incorrectly paid on gaming [...]

1 min read
William Hill

William Hill in line for up to £150m VAT repayment

London-listed gaming operator William Hill may recover as much as £150m from HM Revenue and Customs (HMRC) after the UK tax authority confirmed that it will not seek to appeal a tribunal ruling on the application of value-added tax (VAT) on gaming machines.

The Upper Tier Tribunal ruling dismissed HMRC’s appeal [...]

1 min read

New Jersey bills aim to help casinos recover from shutdown

Lawmakers in New Jersey have introduced legislation that would provide significant tax breaks to help Atlantic City casinos recover the COVID-19 shutdown.

The bill would temporarily modify taxes and fees relating to casinos’ land-based operations, and also amends the current law on the use of promotional gaming credits.

The bill would waive [...]

1 min read

Regulated UK gambling industry generates £3bn in Duties for HMRC

The UK government earned more than £3bn in betting and gaming duties last year from the regulated gambling industry according to the latest figures from HM Revenue and Customs.

Licenced operators paid a total of £3,028,046,000 in betting, gaming and lottery duty in 2019, an increase of 1.5 per cent on [...]

1 min read

US gaming industry launches nationwide iGaming plan

US online gaming industry group iDEA (iDevelopment and Economic Association) has launched a three-prong strategy that would allow any land-based US operator to launch online gaming in states without iGaming legislation.

All US casinos have closed their doors to customers due to the COVID-19 outbreak, robbing state governments of hundreds of millions of [...]

1 min read

Betting and Gaming Council warns of job losses without urgent government support

Britain’s Betting and Gaming Council has warned of real fears for thousands of staff and entire businesses in the gambling industry unless government steps in to provide assistance in the face of widespread venue closures and cancelled sporting events.

According to the BGC, Britain’s casinos face an immediate crisis as customer levels [...]

1 min read
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