Bingo operators renew calls for VAT scrap
Long-running dispute takes new twist as bingo operators lobby Treasury to make a U-turn on the way the industry is currently taxed
Bingo companies have put more pressure on the government to ease the tax
burden they carry.
In a letter delivered alongside the industry’s submission to the Treasury
ahead of the 2008 Budget, bingo operators warned that the alleged double-tax
regime for bingo may cause club closures and a consequent decline in tax take
Daily Telegraph reported.
Industry bosses claimed in the letter that Bingo was ‘the only mainstream
gambling product to be subject to double taxation in the form of gross profits
tax and VAT.’
Eight bingo chiefs including Rank boss Ian Burke and Gala head Neil Goulden
said, ‘Based on current projections, the net cost of removing VAT at this point
is likely to be revenue positive to the government when compared with the cost
of clubs closing.’