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iGGBA Raises Concerns Over Remote Gambling Taxation in the UK5 July 2004UK -- (PRESS RELEASE) -- Following recent statements from the UK treasury, iGGBA has released its position paper on taxation of remote gambling services, calling for a competitive low tax regime which will encourage companies to establish in the UK and become under the robust regulation of a UK license. iGGBA has prepared this document in light of its upcoming dialogue between the Treasury and Customs and Excise over a future taxation regime for remote gambling operators. Andrew Tottenham, chairman of iGGBA states that "the UK will only be able to attract foreign remote gambling business, if its tax rates are globally competitive. More importantly it is critical to offer UK consumers the choice of using a UK-licensed service which comes with strong social responsibility and consumer protection". Other critical points in the iGGBA position paper are: · The acceptance of GPT as a preferred form of taxation · A call for defining GPT and how it would be applied to remote gambling services · A single rate of tax for the remote gambling license · The application of tax on a country-of-origin basis To support its position, iGGBA has collected information on the market size and the taxation and licensing regimes of other jurisdictions. iGGBA also responds to the Treasury's memorandum, to the joint scrutiny committee and an estimation of the effect of a two percent GPT regime on the movement of remote gambling companies to the UK. By highlighting successful regulation in other jurisdictions as well as examining errors that have been made, iGGBA believes that decision-makers here can learn from these examples. For Remote Gambling and UK taxation: An iGGBA Position Statement please consult www.iggba.org.uk iGGBA – interactive Gaming, Gambling and Betting Association iGGBA is the primary industry body in the EU representing companies involved in the operation or provision of interactive platforms for gaming, gambling and betting. With 47 members, the Association aims to work with the Government and regulators in formulating fair and proper regulation, upholding the probity and trustworthiness of the industry, and supporting standards of appropriate social responsibility. |