 |
|
|
 |
|
| |
|
| Lowtax Network Sites |
| Lowtax Network Portal:
'Low-tax' business and investment in the top 50 jurisdictions covered in
exceptional detail. |
| Tax News: Global
tax news, continuously updated through the day. |
| Investors Offshore:
The independent offshore and alternative investment guide for expatriates
and the globally aware investor. Sponsored by HSBC
Bank International. |
| Law & Tax
News: Daily news and background data on tax and legal developments
for international business. |
| Offshore-e-com:
A topical guide to offshore e-commerce focused on tax and regulation. |
| Lowtax Library:
One of the web's largest and most authoritative business and investment
information sources. |
| US Tax Network:
The resource for free online US taxation information, covering: corporate
tax, individual tax, international tax, expatriates, sales and e-commerce
tax, investment tax. |
| Personal
Business Tax Guide: Providing essential tax news and information
on business for contractors, entrepreneurs, professionals, small businesses,
artists, sportspersons and entertainers. |
| Offshore Trusts
Guide: OTG publishes news, features and newsletters on the use of
offshore trust structures. |
| TreatyPro: Online
tax treaty resource. |
|
|
| Cyprus E-gaming Ban Is Open To Consultation |
by Ulrika Lomas, Tax-News.com, Brussels
Friday, June 18, 2010
Online gambling in Cyprus has been permitted since the Betting Law of 2007, but the Cyprus government now plans to ban it, except on horse racing and sports in Cyprus. However SAKOP, a social organization, has pointed out that EU directives demand a public consultation and an impact study on possible repercussions, neither of which has been carried out.
The consultation process will now take place and opposition to the ban is already coming to light. President Demetris Christofias and his government party AKEL have insisted on an outright ban to combat social problems, but others argue that a ban could not be implemented effectively and it is better to regulate gaming activity in order to collect the tax revenues it could generate.
House Legal Affairs Committee chairman, Ionas Nicolaou, has disclosed government estimates that turnover in the Cyprus online gambling market turnover was EUR2.5bn (USD3bn) in 2008, yielding a gross profit of EUR400m. The government says that by 2012 turnover could be as high a EUR5bn and gross profit nearly EUR1bn.
Techlink Entertainment Ltd President John Xidos was quoted by the Sunday Mail as saying: “The biggest problem we see is ... where there is no legal gambling, there is a ton of illegal gambling. The two big issues are that government needs to have full control in order to eliminate corruption, and the players need to have full control in order to control their gambling expenditure”.
Techlink is a supplier of responsible gaming technology which facilitates full control and regulation of electronic games of chance.
A comprehensive report in our Intelligence Report series
examining the new possibilities that offshore e-commerce open up for business,
and analysing the offshore jurisdictions that have led the way in offering professional
e-commerce regimes for international business, with a particular focus on e-gaming,
is available in the Lowtax Library at http://www.lowtaxlibrary.com/asp/subs_reports.asp
and a description of the report can be seen at
http://www.lowtaxlibrary.com/asp/description_report6.asp
|
|
|
|
| THE LOWTAX LIBRARY
One of the web's largest and
most authoritative business and investment information sources. Alongside
topical, daily news on worldwide
tax developments, you can receive weekly newswires or
access up-to-date intelligence
reports on a range of legal, tax and investment subjects.
FREE TRIAL NEWS SUBSCRIPTION
Our 16 constantly updated
intelligence reports cover every important aspect of 'offshore' and international
tax-planning in depth, including banking secrecy, the EU's savings tax
directive, offshore funds, e-commerce, offshore gaming and transfer pricing.
Reports are available for immediate downloading or as subscription
services with news pages.
|
|
 |
|
LAWANDTAX-NEWS.COM
