February 23 - Global information company, Reuters, has reported that British
finance minister Gordon Brown is expected to announce a plan in next month's
budget aimed at encouraging the growth of the online gambling industry in the
United Kingdom.
Brown has been tipped to encourage online gambling companies to obtain British online gambling licenses (under the Gambling Act) while remaining offshore and, in return, being liable for a reasonable two to three per cent government tax rate.
Called 'Remote Gaming Duty', the proposed tax will enable online gambling firms
to avoid paying British VAT. Support for the Internet gambling industry from the
British government is expected to attract interest from online gambling firms
all over the world.
The way the British government views and encourages online gambling is in stark
contrast to the way in which the US government is dealing with online gambling.
At the end of last year, US Congress passed the Unlawful Internet Gambling
Enforcement Act (UIEGA) which has made it illegal for US banks and financial
institutions from processing online gambling-related payments.
This has meant that millions of US-based online gambling fans are now unable to
exercise their right to gamble online, forcing them to seek out land gambling
venues.
