Tag: tax

EU’s Top Court to Consider UK Point-of-Consumption Tax

The European Union’s top court will consider the legality of the UK’s online gambling point-of-consumption tax (POCT). The UK implemented its 15% POCT last December, shortly after the Gibraltar Betting and Gaming Association (GBGA) launched a preemptive legal challenge. The GBGA believes the POCT discriminates against Gibraltar-licensed UK-facing operators and was primarily intended to boost…

Taxes Threaten Pennsylvania Online Gaming

Pennsylvania could become a leader in online gambling, but a high tax rate could kill the idea before players can place a bet, say two advocates of Internet gambling. “People won’t invest proper marketing dollars to drive revenue if the tax rate’s too high,” says David Licht, executive chairman and CEO of All American Poker…

Little Known IRS Plan Could Help Gamblers

While the casino world focuses on fighting an IRS idea to track slot jackpots starting at $600, a little-noticed companion proposal would benefit gamblers, a tax expert says. The proposed change in Internal Revenue Service procedure would establish a “playing session” concept, which could allow players to report less gambling income on their tax return…

Players Should Challenge IRS on Jackpot Wins

Jerry Faychak wonders whether he’s already seen the best days of casino gambling — and whether the IRS soon will make things worse for players and casinos alike. An Internal Revenue Service idea to require reporting of slot jackpots of $600, half the current threshold of $1,200, “doesn’t reflect reality,” says Faychak, who retired after…

In Slovakia, Real Lottery Prize Goes to Tax Man

New York Times – When Jozef Lazarcik, a 35-year-old factory worker, heard his number called on national television here recently, he pumped his fists, hardly believing his luck. He had registered only nine receipts with Slovakia’s new tax lottery, and yet he had just won a new car. “It’s a heavenly feeling,” he said before…

Gambling Machine Tax Hike doesn’t Address Social Impact

The Guardian – In the budget, George Osborne reduced the tax burden on land based bingo halls and raised it for betting shop fixed odds betting terminals (FOBTs). Two gambling sectors treated very differently. The basis of this tax hike on FOBTs, as Osborne put it, was to “bring their profitability more in line with…