Bingo boss calls for VAT abolition
As 100 bingo halls prepare to close in the next six months, Riva gaming calls for VAT on bingo profits to be scrapped
Simon Hannah, the chief executive of Riva Gaming, has called for VAT on bingo
earnings to be scrapped.
Hannah warned that 100 bingo clubs could close within the next six months,
mainly as a result of the smoking ban, the FT reports.
He called for VAT to be scrapped because bingo suffered from ‘double
taxation’.
‘Where betting shops and casinos only pay 15% gross profit tax, we must also
pay 17.5% VAT on our bingo income, putting us at a significant commercial
disadvantage,’ he said.
The industry is meeting with government to discuss the matter this week.
Further reading:
Brown happy to discuss tax concerns with bingo
bosses
Bingo seeks VAT relief to clear smoke