Monday, February 26, 2007

He will use the March 21 budget to announce that companies could obtain a
British license and still remain based overseas in return for a
tax--possibly as low as 2 percent or 3 percent, the Daily Telegraph said
Friday in an unsourced report. Named a Remote Gaming Duty, the new tax would
enable gambling firms to avoid paying British VAT, the newspaper said. A
comment was not immediately available from the Treasury. Internet gaming
groups will be able to relocate to Britain and obtain a license in September
under the Gambling Act, the newspaper said. However, such companies have
said they would decline the chance if it meant paying a tax on gross wins,
it added.