UK Betting Industry Disappointed, Wants Cut in Betting Duty
UK
bookmakers were disappointed by the Government's announcement
this week of measures to discourage betting companies moving offshore.
They have argued to the UK Government that only way to protect
the UK betting industry is to reduce the duty in order to make
it more competitive. The Betting Office Licensees Association
(BOLA), said 'The best way of clamping down is to make the UK
business competitive instead of pulling up the drawbridge with
defensive measures". It renewed calls for a reduction in the 9
per cent betting duty - preferably to 3 or 5 per cent - as the
most effective way of countering the offshore threat. Tom
Kelly, director-general of the BOLA believes all telephone
bets will go abroad unless the government acts to cut betting
duty soon. Bookmakers question the Government's strategy saying
that even if offshore jurisdictions were no longer an option,
there are European Union countries with lower betting taxes than
Britain. In particular, they questioned the Government's plans
to strengthen control over the taxation of companies located outside
the UK. Coral's Malcolm Palmer said: 'Such a measure only extends
to British colonies and if we move offshore, as we intend to do
unless betting duty is reduced, we would have to bear that in
mind by choosing a site where the British Government doesn't have
any legislative power. .
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