by Emma
11. December 2008 03:09
There have been mounting claims over the past few months for the government to reconsider its current tax whammy on bingo clubs. Under the current regime, bingo club revenues are subject to both VAT at 17.5% and gross profits tax at 15%. There has been strong evidence to support the claims that this double-tax sting is a major contributor for the closure of over 100 uk bingo clubs in the past year alone.
Stewart Hosie MP said, “Licensed bingo remains the only gambling product subject to double taxation, which results in an effective tax rate of 28.2 per cent compared with 15 per cent for most other gambling products … Bingo halls provide a safe and friendly environment for the whole bingo community but especially older people to meet and socialise.”
It does seem strange that bricks and mortar bingo halls have to be subjected to these extraordinary high taxes. The government want to help communities not strain things further by closing down meeting areas such as bingo halls. Perhaps we need to start dishing out bingo cards to those that sit down at Parliament so they can see how much fun playing bingo games can be.
The growth of online bingo has resulted in a drop in numbers of bingo players playing at UK Bingo Clubs. Whilst the gambling industry continues to grow both in popularity and profits so all of us here at LivetheDreamBingo support the bingo community in calling for tax breaks for UK Bingo Clubs.
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