A change of tax regime and a pretty good change of the law is going to see Online Bingo sites in the UK taxed at 15%.
The new law implements a bingo tax based on location of a player, that means all of those offshore companies are going to find it harder to hide from the tax man.
New Online Bingo Tax
This might change the situation in the United Kingdom where a new Bingo site opens up every other day. You rarely get to hear about the ones that did not make it, there are many.
Online Bingo in the UK is now going to be adding a tax into the mix, that is in our opinion a good thing. The new bingo tax is of course courtesy of the UK Government just o be clear.
It might mean less bingo sites to choose from, even if it is to be believed smaller bonus offers, it does mean though that player experience should get better plus player protection will be assured.
The windfall to the UK Revenue stream is according to some reports going to be as much as £25 Million. I would have thought that was a rather small amount considering the popularity of bingo games in the UK.
This move has allowed for the relief of the local land based clubs, who I am sure have lobbied for this. Their tax rate will be reduced to 15% which will mean more jobs and clubs staying alive and not being shut down.
Online Bingo has now become a lifeline for the land based game, we think that is also great. There seems to be an idea that Online Bingo players don’t play land based bingo, we think that this significant amount of people will enjoy this fact along with us.
For once it seems officialdom has it right, we look forward to seeing this new Bingo Tax Rate implemented.
In the interim there is always thrill of playing online bingo games and targeting a tasty bingo jackpot.