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William Hill Executive Slams UK Tax Policy |
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Sunday, 03 August 2008 |
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Ralph Topping, the Chief Executive Officer of the UK-facing gambling operator William Hill plc. has called for the United Kingdom government to do away with the 15% gross profit tax on internet gambling, saying that UK-based companies remained uncompetitive against their offshore rivals because of the taxation policy. "We paid GBP 267 million in taxes last year plus GBP 30 million in levies to the horseracing and greyhound industries and employ 14 000 people,” said Topping about the tax policy. “This business has to be allowed some room to grow. What I am saying to the Government is, please think things through from all angles.” UK licensed bookies are obliged to pay the government 15% of their gross profit in the form of taxes, leaving many gambling operators struggling to break even maintain an edge in the industry.
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