Online gambling company Rank Group plc has published a paper in which the UK based company calls for the government to reform its gambling tax policies.
Rank, which was founded in 1995 by J. Arthur Rank, is urging the government to consider a single gambling tax rate as it believes the current model limits market growth, puts consumers at risk and harms job creation.
Rank Group plc Chief Executive Ian Burke said, "I believe that the Government has the opportunity to create jobs in the UK without sacrificing tax receipts by replacing the current patchwork quilt with a single tax, at a single rate".
The paper makes the case that reform would be:
Fair, as it would remove arbitrary distinctions in the taxation of identical gaming services and would protect against market distortion.
Responsible, as it would encourage the development of highly supervised venues for gamin where adults can safely take part in the games.
Sustainable, as it would encourage gaming operators to make a fair contribution to the economy through tax revenues and would enhance the job sector in the United Kingdom through increased investment by the gaming operators.