BGC warns against new “trojan horse” gambling tax measure

BGC warns against new “trojan horse” gambling tax measure

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BGC warns against new “trojan horse” gambling tax measure

The BGC has recently urged the UK government to not implement a set of recently proposed tax measures for the gambling industry.

The British industry organization named the new measure a “trojan horse” which has the aim of increasing taxes for local gambling firms. The BGC urged the country’s government to not implement it, citing that the new measure will threaten various sports which rely heavily on the betting industry to support themselves, such as thoroughbred racing.

The measure in question aimed to simplify the country’s online betting taxes, which currently utilize a structure with three separate rates. The BGC added that currently, general wagering taxes are at 15% in the country, while online gambling is taxed at a higher 21%.

The organization mentioned that this latest “tax threat” comes at a challenging time for the country’s gambling industry, citing the government’s various other measures as drivers of higher costs and lower margins for British gambling firms. These measures include a set of changes proposed by the UK’s gambling white paper, such as enhanced affordability checks, compulsory RET funding, and others.

This announcement follows shortly after the BGC urged the government to reduce certain “stealth” taxes on the gambling industry, which applied predominantly to land-based establishments throughout the UK.

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