The UK gambling industry is facing challenges with new regulations and potential tax increases despite its current impressive revenue figures, especially online. Gambling Minister Baroness Twycross highlighted the industry's contributions, yet concerns loom over the proposed changes to the tax structure. Currently, the three-tier tax system could unify under a single Remote Betting & Gaming Duty, possibly imposing a 21% tax across all sectors. This could render the industry economically unviable, prompting legal experts like Zoe Feller to urge operators to communicate their concerns to the government.
If the proposed changes were to be implemented, tax lawyer Zoe Feller warns that the gambling industry could become economically unviable, severely affecting its contributions.
The BGC's significant contribution of £6.8 billion annually to the UK economy underscores the balance between the industry's success and the impending regulatory pressures.
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