gaming duty

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A tax levied on the profits of a gaming company in addition to corporation tax. The tax (currently at rates ranging from 15% to 50%) is imposed by the Betting and Gaming Duties Act 1981 on the profits of companies registered under the Gambling Act 2005. The Finance Act 2007 extends the charge to ‘remote gaming winnings’, which are defined as gaming on the Internet, by telephone, by television, by radio, or equivalent media.

Subjects: Accounting — Law.

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