The Czech Finance Minister Andrej Babis believes that the gambling industry could give a greater contribution to the country’s economy. According to Reuters, on Friday, Dec. 19, Babis will propose a significant increase of the gambling taxes applied in the Czech Republic that could double the levies currently applied. Today,… – Continue reading
While the Foreign Account Tax Compliance Act (FATCA) has focused worldwide attention on U.S. efforts to create a mandatory cross-border exchange of tax information, the enactment of FATCA was not an isolated occurrence. For more than a decade, the Organisation for Economic Co-operation and Development (OECD) has been trying to… – Continue reading
The ultimate owners of companies would have to be listed in central registers in EU countries, accessible to people with a “legitimate interest”, such as investigative journalists and other concerned citizens, under a deal struck by Parliament and Council negotiators on a draft EU anti-money laundering directive on Tuesday. The… – Continue reading
A Dublin-based amusement arcade operator, a Co Sligo farmer and a Dublin company director topped the latest list of tax defaulters. The 107-strong list, published by the Revenue Commissioners, made settlements totalling €19.64 million. The largest settlement was made by fair and amusement arcade operators Groundview Limited, of 15 Lower… – Continue reading
The Mohegan and Mashantucket Pequot tribes recently met with legislators who oversee gambling issues in Connecticut to talk about competition in other states and what to do about it, a key lawmaker said Tuesday. State Rep. Steve Dargan, D-West Haven said he and state Sen. Joan Hartley, D-Waterbury, who oversee… – Continue reading
A gambling industry group says it’s drafted a first-of-its-kind guide to help casinos prevent money laundering. The American Gaming Association released its best practices Thursday to help casinos and Internet gambling sites comply with anti-money laundering laws. Casinos generally have their own plans but the group says there hasn’t been… – Continue reading
New rules for the UK’s General Betting Duty (GBD), Pool Betting Duty (PBD), and Remote Gambling Duty (RGD) entered into force on December 1, 2014, shifting the place of supply for tax purposes from the place of supply to the place of consumption. The reforms affect those businesses providing remote… – Continue reading
North East Labour MEP Paul Brannen on why European Commission president Jean-Claude Juncker can crack the tax dodge problem The expression ‘poacher turned game keeper’ sprang to mind this week in the European Parliament as in meeting after meeting Jean-Claude Juncker’s suitability for the top job in the European Union… – Continue reading
Refund Management Services (http://www.RefundManagement.com), the number one choice for Canada’s biggest winners for U.S. gaming and casino tax refunds, is issuing its congratulations to the World Series of Poker (WSOP) Main Event champion and weighing in on international gaming tax exemption laws. The WSOP is held annually in Las Vegas,… – Continue reading
The New York Times’ report on prominent American think tanks receiving some $92 million from a minimum of 63 governments since 2011, prompted Rep. Frank Wolf (R-Va.) to ask Attorney General Eric Holder, a long overdue question: “Should think tanks be allowed to take undisclosed donations from foreign governments?” According… – Continue reading
Sears Holdings and Pinnacle Entertainment have become the latest US companies to announce that they are considering establishing real estate investment trusts (REITs), to unlock tax advantages that have been considered by some companies as an alternative to a corporate inversion. REITS do not pay corporate tax as long as… – Continue reading
While American televisions and newspapers delved deep into the weeds in their coverage of this week’s midterms elections, Finland’s media turned their attention to their own national spectacle of civic duty and patriotism — taxes. Normally tax season is nothing to get excited about, but it’s an anticipated event for… – Continue reading
The European Court of Justice has ruled against Italian gambling tax legislation, which taxes winnings from games of chance that are obtained in other EU member states but exempts such winnings obtained in Italy. The Court said that by exempting from income tax only winnings from games of chance obtained… – Continue reading
Australians gamble more per capita than any other country in the world – and lose more too – so it’s no surprise that our gaming industry is getting flustered about the rivers of money flowing to the online black market. Tabcorp’s Paula Dwyer today called on the federal government to… – Continue reading
Tabcorp is pushing the Federal Government to even the playing field when it comes to wagering. Tabcorp’s chairman Paula Dwyer wants a ban on rival offshore betting companies operating in Australia. An estimated 14 per cent of betting by Australians is with non-licensed offshore operators, Ms Dwyer told shareholders at… – Continue reading
The Gibraltar Betting & Gaming Association (GBGA) is continuing its challenge against changes to the United Kingdom’s regulatory and licensing changes for gambling-service providers by asking for a judicial review of a recent High Court decision which went against the GBGA’s interests, specifically challenging whether the new 15% “UK point… – Continue reading
The European Union Court of Justice (CJEU), Europe’s highest court in matters of EU law, ruled against the Italian government in a dispute related to the Italian taxation on gambling. According to the CJEU, Italy’s tax legislation operates in conflict with Article 52 and Article 56 of the Treaty on… – Continue reading
Reports from Vanuatu say an entertainment company with interests in China is to offer a new style of gambling to Vanuatu. The Daily Post Newspaper reports Amax International Holdings plans to offer live-dealer online gambling to high-rollers in the country. Amax is an investment holding company engaged in gambling and… – Continue reading
The Isle of Man is showing great enthusiasm for crypto-currencies – from the landlord at a popular Douglas drinking hole to the Lieutenant Governor, everyone is talking about digital currency and the potentially huge benefits to the Island. The Isle of Man Financial Supervision Commission (FSC) has announced plans to… – Continue reading
Illegal Gambling Crackdown in Italy…A “Report on Tax Evasion“ Illegal Gambling Crackdown in Italy…A “Report on Tax Evasion“ Italy’s Report on Tax Evasion Runs Gamut on GamblingItaly is cracking down on illegal gambling operations. Pier Carlo Padoan, Italian Finance Minister, has disclosed the chain of new procedures that is being… – Continue reading
On top of his many boxing titles, including world championships in eight weight classes, Manny Pacquiao is on tap for a possible Senate seat in 2016. First, he has to get his taxes resolved. The Supreme Court of the Philippines ordered the boxing champ and potential Senator to answer the… – Continue reading
On top of his many boxing titles, including world championships in eight weight classes, Manny Pacquiao is on tap for a possible Senate seat in 2016. First, he has to get his taxes resolved. The Supreme Court of the Philippines ordered the boxing champ and potential Senator to answer the… – Continue reading
Nearly 200 entrepreneurs, enthusiasts, private sector representatives and governmental officials were convened last week for the Crypto Valley Summit 2014 in the Isle of Man to share their points of views on numerous topics involving digital currencies and discuss the opportunities and challenges that is facing the industry. The two-day… – Continue reading
Racing authorities have launched an investigation into allegations offshore bookmaker Betjack is failing to pay punters their winnings. The move comes as Betjack, based in tropical tax haven Vanuatu, gears up ahead of the spring racing carnival by hiring more sales staff for its Australian call centre, located on the… – Continue reading
To some, US companies switching their tax residency to gain a tax advantage are economic “traitors.” To others, they are victims of a United States tax code that effectively punishes them for investing at home and encourages them to look for opportunities overseas. In this Tax-News Topical Focus, we try… – Continue reading
Even if you beat long odds and win the lottery, you’ll have taxes to pay. It can be more challenging than you might think. Time and again, winners have trouble paying their taxes or get confused. The states vary in how they treat lottery winnings. A few states still don’t… – Continue reading
Elated by the success of their hard-won campaign to overhaul the country’s excise tax system, civil society groups are now shifting gear from raising taxes on so-called “sin products” to ensuring proper collection and preventing tax evasion, particularly on cigarettes. Anti-smoking advocate FCTC Alliance Philippines led by its president, Dr…. – Continue reading
NASSAU, Bahamas (CMC) – The Bahamas government says it is “unable to ignore” the nuances that came to light when the island held a referendum on gaming in 2013 as it announced measures to modify its position on regulating the gaming industry. Prime Minister Perry Christie said as a result,… – Continue reading
A draft Council of Europe Convention on the manipulation of sports competitions may see Malta losing on the remote gaming industry The Maltese government will continue to push for changes to a new definition of illegal sports betting which is being drafted by the Council of Europe, and pushed by… – Continue reading
The e-Gaming team for the Department of Economic Development and representatives from the Isle of Man’s e-Gaming sector have reported an extremely high number of enquiries from potential new business showing serious interest following a highly successful ICE Totally Gaming event in London last week. Howard Quayle MHK, the Department’s… – Continue reading
