Double Standards
20th November, 2008
Spokesman Stewart Hosie MP of the SNP Treasury has written to Treasury Minister, Angela Eagle calling for an end to double taxation on bingo.
With current economic climates and legislation laws bingo operators like Sun Bingo are finding times difficult. Bingo club revenues are subject to both VAT at 17.5% and gross profits tax at 15%. The bingo sector believes this to be a contributor to the closure of at least 100 clubs in the past 5 years.
MP Stewart Hosie commented saying, “the UK Governments treatment of the bingo sector is incredibly unfair and action needs to be taken to help the sector at this very difficult time.”
Licensed bingo is currently the only gambling product incurring these taxations, and when compared with most other gambling products are subject to near double the tax rate, at 28.2% to their 15%.
Bingo is becoming more and more a favourite pass-time for the UK public especially online bingo, and should be underestimated. It provides enjoyable and safe surroundings particularly for the older community to meet and socialise.
In 2003 the Government chose not to remove double taxation from bingo halls, but for the sake of fairness and obvious economic reasons the removal of double taxation is required.
By Rommon
