Starting in 2011 online casino operators will pay new taxes

22 December 2010 – By Linda Jefferson

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Many online casino operators move their operations to Gibraltar to get away from the huge taxes they were paying in their countries. But recently Gibraltar lawmakers decided to raise their online gambling taxes from one percent in present day to ten percent starting in 2011. Despite the fact taxes are going up, analysts say that most of the gaming companies located in Gibraltar will not leave this country.

The modification of the tax level is made under the pressure of the European Union. The European Community laws say that taxes must be comparable and Gibraltar has had a tax level much below other countries. However, although this decision will affect some companies, Gibraltar lawmakers know that companies could not find anyplace where they will receive a lower rate.

Gibraltar government is not worried about the risk of losing business partners also because of the recent moves in the online casinos market. Ladbrokes, one of the biggest online gambling companies in UK, is located in Gibraltar and is in the process of creating a bid to acquire 888 Holdings. If that succeeds, Gibraltar could see in the years to come more companies moving into the area.

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