Bingo Gaming Machine Tax Being Reviewed

Written by: Nikola Zugic on 31/07/2009 19:32

The UK Government is now getting cautious about the changes they are making with regards to tax rates. They may still refuse reversal of bingo duties but at least now they are already undergoing a review and consultation process with regards to tax for the gaming machines in bingo clubs. The Treasury has already begun a consultation process which now involves the bingo industry. They are now offering the consultation document for all the bingo operators, insiders, and lovers and waiting for their response.

The tax being reviewed is for the gaming machines that can be found at bingo clubs and other venues. Currently the profits from such gaming machines count 30% of bingo clubs profits. That’s why they are reviewing the taxes being implemented on such machines. But of course, to avoid what has happened with regards to the increase they made on bingo duties from 15% to 22%, they are now undergoing a review process. This way, it will be fair to all parties involved. In fact, the high bingo taxes issue hasn’t died just yet. Bingo operators are still trying to find ways to fight this increase and are continuously asking the government to reverse the high tax even if the government refuses to do so.

According to the Secretary to the Treasurer, Sarah McCarthy-Fry, they have already published the consultation document in their website for everyone to review. Now, the bingo industry is taking this process well because at least, they won’t be surprised with a sudden change, if and when it happens. At the same time, at least they are being consulted before the government makes any change in the taxes relating to gaming machines. This process was the one thing that could have saved all parties, the government and the bingo industry, from battling over the current 22% bingo taxes. If only this was done then it should have avoided all the issues and complaints that we’re reading in the news today.

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