Britain trying to woo online gambling companies

Britain trying to woo online gambling companies

Considering the US government is going against the online gambling industry, the UK government is likely to announce plans to attract more companies to setup their operations in the region.

British finance minister Gordon Brown is due to come out with their plan to encourage the online gambling industry.

This was revealed in a report by the Daily Telegraph. The report claimed that Brown would be announcing plans to allow online gambling companies to obtain a British license and still remain based overseas. This would be in return for taxes which can be as low as 2-3 percent.

The report further claimed that this new tax would let these companies avoid paying the usual British VAT.

The Telegraph further reported that the companies would then be able to relocate to Britain and obtain a license from September under the Gambling Act.