UK Budget is Bad News For Land Based BingoLand based bingo industry trying to recover after they received the news that the UK government's latest budget will not be removing the much hated so called double tax by getting rid of VAT on bingo earnings.
This is being taken as an actual increase in the tax burden on the industry, the budget also announced that there will be higher rates of amusement machine license duties.
But the budget had little effect on the online bingo industry and this is one of the reasons that people are starting to leave bingo halls in favor a bingo website. Online Bingo has been enjoying their growth over the last few years as more people sign up every day, while land based bingo has seen a large decline in attendance.
Bingo Association Chief Executive, Paul Talboys said this about the new budget, “This is a slap in the face for bingo players across the country. There is no reason why they should continue to be penalized by double taxation when other gambling products pay only a single tax. The industry is struggling to deal with the combined impact of double taxation, the removal of gaming machines and the impact of the smoking ban. In the last fourteen months alone some 43 clubs have closed. This lack of action will now ensure further club closures with attendant loss of jobs and decrease in Treasury receipts.”
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