Betfair May Be The Next Gambling Group To Leave The UK - Gamblingkingz.com

Betfair May Be The Next Gambling Group To Leave The UK - Gamblingkingz.com: "After confirming last week that it would be going ahead with planned flotation on the London Stock Exchange valued at £1.5 billion, Betfair has apparently drawn up a contingency plan that could see the group move its operations to Gibraltar.
Rumours are high that Betfair will follow in the footsteps of its rival William Hill in a bid to save millions of pounds in taxes.
By operating offshore, Betfair will also be free of the heavy 10% horseracing levy that all bookies in the United Kingdom are subject to.
Gross Profit Tax (GPT) in Gibraltar is only 3%, compared to the 15% demanded by the UK government.
Bookmakers have long complained over the government's inaction over offshore gambling sites, as well as ever-increasing taxes on local UK gambling operations."

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