The Isle of Man government is allowing operators licensed in the jurisdiction to claim Double Duty Relief up to a monetary maximum equivalent to the amount of gambling duty that would be due to the island’s treasury on the same activity.
The changes, which became into effect on December 1, are in response to the recent introduction of point-of-consumption regulation in the UK.
Peter Greenhill, CEO for e-gaming development with the Isle of Man department of economic development, said: “We recognise the burden that the new UK tax will place on our licensed operators and while we are not legally bound to offer this relief we have decided that this is the best approach.
“In addition, the Isle of Man’s positive relationship with the UK’s HM Revenue and Customs means that our operators will not have to appoint a fiscal representative in the UK, thereby saving them substantial costs.
“This decision provides reassurance to Isle of Man licence holders so that they can continue to run their operations from data centres on the Isle of Man and base their decision making capabilities here, as well so as to protect against any future claims under base erosion and profit shifting.”
The Isle of Man currently has 56 licensed operators and online gaming represents 13 per cent of GDP.
