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UK based gambling giant William Hill plc is reportedly set to challenge a possible new UK gambling law that would charge offshore wagering firms a point of consumption tax.
The move by the betting firm was reported this week by the Telegraph newspaper, who said that William Hill is not happy with the potential 15% tax on profits, which would be put into effect beginning at the end of 2014.
As online gambling taxes have been enacted, many gaming giants have moved away from the UK to tax friendly jurisdictions such as Gibraltar or the Isle of Man. Lawyers for various betting firms have that the tax is not legal under current European Union law as it restricts movement of goods and services for tax reasons.
Willim Hill's CEO Ralph Topping said that his company's lawyers have said that they are confident that they can build a solid case against a point of consumption tax.
Jason Chess, who is a betting and gaming partner at Wiggin said that: “You cannot restrict the free movement of goods and services in order to raise your own national tax. We can’t stop BMW from selling BMWs in this country because the tax is paid in Germany.”
|William Hill Casino||Gibraltar, U.K.|