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."
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