TaxAdministrationTotesport moves to tax haven

Totesport moves to tax haven

Tote’s online gaming business Totesport has found a tax haven which will enable it to avoid UK taxes

Internet-based
Totesport
Casino
, operated by the government-owned Tote, is moving its operations to
the offshore tax haven of Alderney, which effectively allows it to avoid UK
taxes and regulations while still being able to advertise in the UK.

The Guardian notes the move will come as an embarrassment for
ministers who have sought to promote UK’s approach to online gaming, set out in
the Gambling Act 2005, as world-leading.

None of UK’s leading poker and casino operators have taken up a UK gaming
license, blaming a exorbitant 15% ‘remote gaming duty’, the tax on online poker
and casinos.
A spokesperson for the Tote, which is about go private, told The
Guardian
the decision to switch its online casino operations from Curacao
to Alderney was to enable Totesport to advertise freely in the UK.
Curacao-licensed operators do not qualify for UK advertising freedoms.

Further reading:

PwC warns govt against Tote sale

Tote joins race for faster odds

Read
story in The Guardian

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