UK Chancellor George Osborne reiterated plans Wednesday to tax offshore online gaming operators, almost a year after the plan was first proposed, however most analysts agree that a UK point of consumption tax is still years away.
In his 2012 budget speech, Osborne attacked the online gambling duty regime introduced by the last government, which he said had allowed much of the industry to avoid taxation by relocating offshore.
“90 per cent of online gambling consumed by our citizens is now supplied from outside the UK and the remaining UK operations are under pressure to leave,” he said. “This is clearly not fair - and not a sensible way to support jobs in Britain.”
The Chancellor’s focus on jobs and competition was a departure from the previously stated objective of the proposed changes, namely the protection of consumers, which had been called into questioned by the industry.
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