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Government targets playing business with tax will increase

LONDON (Reuters) – Britain’s Chancellor Philip Hammond introduced on Monday plans to extend taxes paid by offshore playing firms from subsequent yr to offset lost tax income from reducing the quantity that may be staked on fixed-odds betting terminals.

Hammond advised parliament he plans to extend the so-called Remote Gaming Duty paid by abroad operators who supply on-line casino-type video games similar to blackjack to 21 % from its present degree of 15 %.

“I can confirm that we will increase Remote Gaming Duty on online games of chance, to 21 percent in order to fund the loss of revenue as we reduce FOBT stakes to 2 pounds,” Hammond advised parliament.

Reporting By Andrew MacAskill; modifying by Michael Holden

Our Standards:The Thomson Reuters Trust Principles.

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