Bingo operators renew calls for VAT scrap
Bingo companies have put more pressure on the government to ease the tax burden they carry.
In a letter delivered alongside the industry's submission to the Treasury ahead of the 2008 Budget, bingo operators warned that the alleged double-tax regime for bingo may cause club closures and a consequent decline in tax take for the Treasury,The Daily Telegraph reported.
Industry bosses claimed in the letter that Bingo was 'the only mainstream gambling product to be subject to double taxation in the form of gross profits tax and VAT.'
Eight bingo chiefs including Rank boss Ian Burke and Gala head Neil Goulden said, 'Based on current projections, the net cost of removing VAT at this point is likely to be revenue positive to the government when compared with the cost of clubs closing.'
Written by David Jetuah
