Online Casinos Firm Awaits Taxation Rates
Echoing comments on taxation made by Gambling Commission Chair Peter Dean last month, online casinos operator Victor Chandler has joined the many online casinos operators urging the United Kingdom’s government to implement favorable taxation concessions along with the new Gambling Act. In an interview with British daily ‘The Times’ Victor Chandler’s CEO reported that he would consider relocating his Gibraltar-based online casinos operation in the United Kingdom if the government eases up on taxation regulations.
Victor Chandler was one of the first British operators of online casinos to take advantage of tax rebates offshore. In 1999, the online casinos firm moved its operation to Gibraltar, from where it was able to offer casino players and sports fans virtually tax-free gaming. However CEO Chandler advised he would be tempted to move back to the United Kingdom if taxation rates proved more favorable than those in Gibraltar because of the high caliber of potential online casinos employees and the almost unlimited geographical access to internet bandwidth.
UK Gambling Commission officials are currently working towards establishing a new taxation system for online casinos. Gambling Commission chairman Peter Dean has stated previously that if the taxation rate is not significantly lower than that offered to offshore online casinos, gambling operators will stay where they are, resulting in many of the initiatives that the Gambling Act 2005 strives to implement being foiled