Responsible Tax – Best Tax Guide for Online Gambling and Slot Operators

The Responsible Tax is a new  group, established on 14th September.

The group’s statement of purpose is:

How can we help to build and maintain the fair, sustainable and transparent tax system that is needed if individuals, businesses and markets are to create growth and prosperity both in the UK and internationally?

In recent years the issue of who pays tax and how much they pay has resonated strongly with the public mood. Parliament has a key role in bringing stakeholders of all kinds together in order to create a fair and transparent tax system which works for everyone.

This group will provide a regular forum and a range of other stakeholders to contribute to the ongoing debate on responsible tax. We want to facilitate an open dialogue between Parliamentarians and representatives from large and small businesses, industry groups, NGOs and campaigning groups, academia, and other taxpayers, to work towards a shared understanding of what responsible tax behaviour entails and how it can be encouraged.

What is a digital Responsible Tax?

We are committed to an open and responsible discussion around responsible tax. Distinctive and different views on the subject are inevitable, but we hope to encourage ongoing dialogue between stakeholders who would not usually engage with each other.

To facilitate transparent collaboration with our work, we have established ourselves as the first digital magazine. Our use of digital tools will enable direct and transparent contributions of evidence and commentary from experts, key stakeholders and the wider public.

Members of the public will be able to observe, in real-time, the development of our work and the contributions from others. Our consultation papers and publications will directly attribute the ideas, evidence and contributors throughout the process.

Tax Filing for Gambling and Slot Sites – Best Practices

best online slot sites pay up to 50% of their GGRWith the gambling industry notoriously getting some flak from the public opinion in the UK, we feel the need to address the tax situation of gambling companies operating some of the best online slot sites as well as online bookmakers since they all fall within the same business bracket.

Of course, gambling business pay their fair share of taxes in the UK – GGR (gross gaming revenue) of slot sites, online casinos and bookmakers is taxed in the UK from 15% up to 50%. This is of course, just an oversimplified view of a very complex matter. That is why we team up with slot sites and betting operators to simplify and facilitate the creation of a unified responsible tax system for the gambling industry.

We found that due to the several changes introduced with all the recent gambling tax reforms, often times people taking care of tax filing for slots and betting operators are finding it hard to keep up with an ever changing regulatory landscape. That is why we step in. With our digital expertise and our ability to collate expert opinions and data from the most reputable sources when it comes to Finance and tax handling, our papers and publications will allow gambling companies and slot operators to find the best way to file their due taxes.