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Online Casinos Strategies - online casinos Tax Reforms
Online casinos betting firms including William Hill Online casinos Plc and Hilton Group Online casinos Plc moved businesses back to Britain after gambling taxes were reformed in 2001, a study by U.K. government auditors found.
"The big online casinos operators have repatriated their offshore online casinos businesses and secured additional employment within the U.K.," the report said, citing William Hill Online casinos and Hilton Online casinos Group’s Ladbrokes subsidiary.
Under pre-2001 rules, customers had to pay 9 percent tax on each stake, making offshore Online casinos gaming firms, such as Internet sites, cheaper. The reforms replaced that levy with a 15 percent gross profits tax on bookmakers.
Online casinos Gambling duties collected fell to 1.35 billion pounds ($2.54 billion) in the year to April 2004 from 1.53 billion pounds in the year to April 1999. Still, "it is likely that the reduction under the old regime would have been higher in the longer term had no change been made," a report by the National Audit Office concluded.
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