The Future of Online Casinos in the UK after the Point of Consumption Tax
Companies who want to purchase online gambling software are surely aware of the fact that internet casino sites are regulated differently in various jurisdictions. Thus, almost every country that has legalized online gambling has its own gambling laws. One of the best regulatory systems for online casinos in the world is the one of the United Kingdom. Its top-notch web infrastructure and technical know-how has attracted a lot of operators, who currently cater to many gaming enthusiasts.
Even so, operators who are looking to purchase online gambling software will soon be required to pay the UK “point of consumption” tax. Under the new law, anyone who wants to offer gambling games to UK residents will have to pay the tax, no matter where their casinos are based. Like so, if an operator is based outside the UK, but provides online casino services to UK residents, he will become liable for tax.
Companies who bought online gambling software and already run casinos in jurisdictions like Gibraltar, Antigua and Barbuda, the Isle of Mann and Alderney, have not been taxed in the UK. Instead, all of them were taxed in accordance with the tax regimes of their jurisdictions. Now, all operators who are based in any of these jurisdictions and want to offer gambling services to UK residents will also gave to obtain a license from the UK Gambling Commission.
On the other hand, there are several jurisdictions which are not heavily regulated, and gaming enthusiasts can legally play at foreign gambling sites. For example, New Zealand has not yet approved that any operators can cater to New Zealand residents. Even so, there is no legislation which states that they can’t play at casinos based abroad. In the Gambling Act 2003, it is stated that it is legal for New Zealanders to participate in online gambling if the website is based overseas.
Like so, operators who buy online gambling software might like to know that New Zealanders can play at sites operated offshore, without breaking the local laws.
BY CASINOWEBSCRIPTS PUBLISHED 3 November 2014