Gibraltar introduces higher gambling tax in preparation for Brexit

Gibraltar introduces higher gambling tax in preparation for Brexit

By site_editor

Casino news daily and other media report as follows (July 7 2018): 'Gibraltar is rolling out a new gambling tax and new annual licensing fees for gambling companies to “complement a constantly changing industry landscape”, Minister for Financial Services and Gaming Albert Isola announced earlier this week during his budget speech.

The new taxation regime has already taken effect and Minister Isola said that companies that would be most affected by it had been warned well in advance to prepare to it.

The politician elaborated that they have been considering different models to replace Gibraltar’s “flat rate” on gambling that companies have paid since 2005, when the British Overseas Territory adopted its Gambling Act.

Under the new regime, B2C gambling companies will pay a 0.15% tax on their annual gross receipts. The tax applies to both sports betting and casino gaming operators. These used to pay a 1% tax. Turnover was the tax base for sports betting companies, while casino operators were taxed at 1% of their gross gaming yield.

Company Details

International Association of Gaming Regulators
7881 W Charleston Blvd, Suite 155
Las Vegas, NV 89117
USA

Fax: +001 (636) 277-6665

Email Contact

Twitter Feed

Igaming regulation following hot on the heels of sports betting https://t.co/tpDfoR7q6K @SBCGAMINGNEWS
IAGR_ORG (Yesterday)
Ireland’s new gambling regulator to launch in 2023 https://t.co/LUtFfZOUNB @icasinoreview
IAGR_ORG (2 days ago)
The new International Regulatory Awards recognise regulators who are helping to drive the industry forward. "They… https://t.co/yzyaKNA1ed
IAGR_ORG (2 days ago)
EGBA says Italian draft law could breach consumer protection laws https://t.co/BPRojDcbRD @iGamingBusiness
IAGR_ORG (2 days ago)
Crypto Transactions on the Rise in Global Gaming despite Unclear Regulation https://t.co/lZix3e3l8x @newstrack_eng
IAGR_ORG (2 days ago)