UK place of consumption (POC) tax on online gaming.

[TightEnd]

http://pokerfuse.com/news/law-and-regulation/uk-govt-confirms-place-of-consumption-tax-plans-for-online-poker-17-01/

in a response to comments by the Parliamentary Select Committee on the Department of Culture Media and Sport’s (DCMS) legislative proposals, the UK Government has reiterated its commitment to introducing a place of consumption (POC) tax on online gaming.

The POC tax proposal is complementary to the recent DCMS Bill which managed, in four simple clauses, to extend the regulatory licensing requirement to all operators who offer gambling or online poker to UK residents.

The UK Treasury is expected to introduce the place of consumption tax in its own bill in time for implementation in December 2014.....

[DaveShoelace]

Weeeeeeeeeeeeeeee start doing your tax returns guys, FPPs count as earnings, put your Hold'em Manager on expenses.

[gouty]

More like get ready for huge increase in rake and reg fees. UK gov like to tax the providers not the players.

[JK]

More like get ready for huge increase in rake and reg fees. UK gov like to tax the providers not the players.

This was my immediate reaction

[vegaslover]

More like get ready for huge increase in rake and reg fees. UK gov like to tax the providers not the players.

This ^^^^^, players wont be getting taxed directly

[Sheriff Fatman]

Coming soon, pokerstars.uk

[Doobs]

More like get ready for huge increase in rake and reg fees. UK gov like to tax the providers not the players.

Just like happened with the reg fees on .fr?  It seems far from certain there will be a HUGE increase in reg fees.

[tight4better]

Been coming for ages, I said in another thread this was a massive pinyata waiting to be whacked harder than at a max moseley party.

[blueace]

I think stars will probably have to swallow a lot of these additional costs from any taxes. Taxes will no doubt cause a number of the smaller sites to fold, and their users will migrate to stars - net result stars pay out more but tighten their grip on the overall market.

[AndrewT]

What happened when France did this (albeit at 15%) is a load of sites opened up. After a year, having done the sums, many of them decided it wasn't worth it and pulled out.

All depends on the % rate the tax is set at.

By Dec 2014 everyone will be busto anyway.

[marcro]

Pokerstars are obscenely profitable largely because of the little tax they pay.  They could easily take the hit only any taxes and still be exceptionally profitable.  If they try and pass this off to the players it could set off some interesting dynamics.

[redarmi]

I don't really get what the interesting dynamic would be?  Every firm will have the same tax burden and Stars will still benefit from economies of scale.  Hard to see them being undercut massively in any circumstances.

[doubleup]

This is old news - it goes hand in hand with

http://www.culture.gov.uk/news/media_releases/9559.aspx?utm_source=EB%2B031212&utm_medium=email&utm_campaign=EB%2B031212%2Bremote%2Bbill

All internet gambling providers will have to be registered with the UK Gambling Commission and they will be taxed a % of their gross profits.  At the moment 15%, but it might be reduced.

[outragous76]

Assuming MC's Internet connection is down

(stealing jokes from Barry carter)!

[DaveShoelace]

Assuming MC's Internet connection is down

(stealing jokes from Barry carter)!

Either that or he is being talked off a ledge like when Black Friday happened and he forgot he wasn't American.

(He should totally have Jimmy Carr as his avatar)