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2009-08-22

Gibraltar attracts gambling companies

Britain's well-known and second largest gambling company (betting) William Hill move their units for telephone and internet betting to Gibraltar for tax reasons.

The increasingly fierce global competition for gamblers
forces gambling companies to establish in countries with low VAT.

To pay 15 percent in tax in the UK when your competitors
, such as the company Paddy Power pays 1.5 percent in taxes through the establishment in Ireland is an impossible market to us, says William Hill's chief executive Ralph Topping.

In Britain, they now fear that all betting intermediary – gambling companies will be forced to go offshore, to low VAT countries with their activities if they want to do well.

The gambling company Ladbrokes is now watching its competitors offshore activities and have announced that they will not sit and wait for what the government decides in their tax analysis of the gambling market.


                                                                            Cecilia Helland

Source

The Sunday Times can be found here

News and facts about Gibraltar can be found here
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