Wednesday 21 March 2012
David Prestwich, Head of Tax for Transport and Leisure at KPMG comments:
“At the moment most UK gambling spend is placed with offshore groups and the move to a consumption tax is a neat way of bringing that spend under the visibility of the UK treasury whilst at the same time rendering redundant certain benefits of offshore tax structuring arrangements.”
“For most gambling groups this will represent a significant change in the way these companies collect and pay taxes and therefore gambling groups must start considering the impact of this change early."
Ends
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KPMG LLP, a UK limited liability partnership, is a subsidiary of KPMG Europe LLP and operates from 22 offices across the UK with over 11,000 partners and staff. The UK firm recorded a turnover of £1.7 billion in the year ended September 2011. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. We operate in 152 countries and have 145,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. KPMG International provides no client services.
