|
|
09 Mar 2011
Betfair has taken a gaming licence in Gibraltar - a move that would have saved the gambling business more than £18m in tax last year.
The move means Betfair will not have to pay the UK's gross profits tax for betting, which was introduced in the UK in 2001.
Further reading
Moving its betting infrastructure to Gibraltar and Irelnad will cost Betfair £10m in the year ending 2012, but will positively impact on its EBITDA.
Betfair will "continue to support British horse racing" by committing the same amount of funding it has paid via the statutory levy, and maintains its incorporation in the UK - including its HQ base.
For more company information and stock market data go to Share Price Centre
You may also like
Search thousands of financial jobs:
Search thousands of financial jobs:
Careers
Search for jobs
Click to search our database of all the latest accountancy roles
Create a profile
Click to set up your profile and let the best recruiters find you
Jobs by email
Sign up to receive regular updates with the latest roles suitable for you
Briefings
By looking at the reasons supplier statements became unfashionable, and the reasons why it is different today, this paper delves into the many benefits that can be obtained by automating the process.
Having a real and true view of your organisation’s current financial position, and having the right systems and processes in place, will ensure that you can make strong choices and are ready to capitalise on opportunities
AccountancyAgeInsight is a frequently updated resource centre for finance professionals, offering a free and easy-to-use digital library of briefings, white papers and other information resources. 
Visitor comments Add your comment