UK to Tax Online Casino Freeplays effective August 1

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campeones
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UK to Tax Online Casino Freeplays effective August 1
« on: July 30, 2017, 01:32:50 PM »

Starting from August 1st, the UK will tax freeplays at online casinos. This will be a 15% Point of Consumption tax. The UK Government hopes this could bring in at least £345 million within the next 5 years. How will it be imposed? There is a general phrase saying ''Freeplays will be added when calculating licensed operators’ profit'', whatever that means.
Under current laws, UK-facing operators can use not taxable bonuses to attract new players and motivate existing. The UK Government explained that the status quo would be changed so that regulations were brought in line with the General Betting Duty, under which free bets have been subjected to taxation for some time now.
This is a tax on casino free plays and I cant find anywhere mentioning sports betting bonuses tax. Also I cant figure out how this new tax will influence international players (outside the UK). For sure operators will push some of the damage to the players but still don't know how.
Must be bad news.
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betlucky
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Re: UK to Tax Online Casino Freeplays effective August 1
« Reply #1 on: August 04, 2017, 09:50:38 AM »

Thank you for your info, it's probably bad news as you say
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