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Post by sheikhmomo on Oct 1, 2014 10:21:11 GMT
For those of you who don't think it's about tax, corp tax on gaming revenues in Gibralter is capped at £425,000 a year... And its Tax avoidance not evasion, perfectly legal. I'm sure there are some VAT advantages as well but in the larger scheme of things, the savings cannot be the main motivator. This represents a major u turn in their strategy and political position in the market.
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Post by fca47 on Oct 1, 2014 10:42:44 GMT
They had their knuckles rapped over their money laundering policies, which are lax throughout the whole industry, and have taken umbrage over it. They have been in Gibraltar for certain aspects of the business but it has all gone there now.
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Post by Whitmore on Oct 1, 2014 10:57:24 GMT
For those of you who don't think it's about tax, corp tax on gaming revenues in Gibralter is capped at £425,000 a year... And its Tax avoidance not evasion, perfectly legal. I'm sure there are some VAT advantages as well but in the larger scheme of things, the savings cannot be the main motivator. This represents a major u turn in their strategy and political position in the market. Yes no VAT in Gibraltar. To be fair I don't think the tax saving are the whole story either, from the first of December HMRC are changing the way duty is paid on gambling, its charged on the basis of where it is consumed, not where it is sold from, so in theory all companies will have to pay 15% duty on UK gaming yields, Gibraltar has agreed with the UK to enforce it as well. I suspect that Bet365 is effectively missing a trick by being the only company outside of Gibraltar, Gibraltar is a hub for international gambling, the best staff, supporting industries etc.
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Post by Deleted on Oct 1, 2014 12:54:13 GMT
You can't blame anyone other than the governments which allows these loopholes.
You can just hear The PM and his Public School multi millionaire side kicks telling us that there is no money for schools or the NHS, no fucking wonder.
I guess they will still manage to find enough for a few missiles every now and again, but then they will most probably have shares in the arms companies, as well as the private health companies of course.
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Post by dutchstokie on Oct 1, 2014 12:58:54 GMT
I look at this in the same way Noel Gallagher looked at shit fans when they put petrol in their car... I cant remember the exact quote but it was something along the lines of: 'every full tank adds to our transfer fund" or summat similar. So - everyone time some bin dipper, shit fan, deluded geordie puts a bet on with bet365 hes adding to our transfer fund as well !
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Post by Eggybread on Oct 1, 2014 20:46:51 GMT
Unbelievable.So because they contribute more tax atm than other competitors its ok for them to evade paying some.Tell that to cancer patients who because of NHS cuts are not getting the correct treatment.And just what have the Coates family done for the city of Stoke-On-Trent apart from the obvious football team? What are you on about? I will say this veeeerrrryyyy slowly for you... IT IS NOT TAX EVASION! Love it.Tax avoidance, evasion, VAT what ever you want to call it.Some people will believe just about any thing they hear or if they can read.What do you think Bet 365 have moved there for a holiday or for the good of man kind?Now slowly think xx
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Post by santy on Oct 1, 2014 21:09:58 GMT
For anyone who criticises them, think very carefully. Additional money spent by Bet365 on Stoke whenever Stoke are making/announcing losses comes off the tax bill Bet365 paid. So in essence, you could argue that Bet365 were getting out of contributing towards the NHS, schools etc to contribute towards Stoke City.
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Post by CalgaryPotter on Oct 2, 2014 0:56:19 GMT
They are heavily investing in the area As well as all the Hillside buildings, they are currently knocking the old Sentinel offices down on Forge Lane - in 18 months/2 years there will be a mahoosive Bet365 centre there, on top of the others. Not surprised they are taking advantage of tax laws though, all the others seem to do it! And for those criticizing Bet365, have a think about what may be paying for the building work at Forge Lane, the jobs the demolition & reconstruction creates and the new jobs at the mahoosive centre. I work in the tax industry & listen to the bollocks spouted by Govt. These tax loopholes enable companies to invest cash back into their business & in turn the economy, creating jobs which in turn creates additional payroll taxes. People have jobs, they spend money, the economy grows. There are two sides to every story. A report was commissioned last year singling out high net worth individuals worldwide who were illegally 'evading' tax, it was put together by Investigative Journalist who had the balls to name names, politicians the works. I've yet to see anyone charged from that list & doubt I ever will. It's all gone very quiet apart from Governments all over the world shouting about how they are going to close the tax loopholes for business in places like Luxembourg whilst promoting their own similar beneficial tax schemes to attract business to their country.
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Post by chairmanrob on Oct 2, 2014 2:16:14 GMT
Unbelievable.So because they contribute more tax atm than other competitors its ok for them to evade paying some.Tell that to cancer patients who because of NHS cuts are not getting the correct treatment.And just what have the Coates family done for the city of Stoke-On-Trent apart from the obvious football team? Read more: oatcakefanzine.proboards.com/thread/235287/bet365-offshore#ixzz3EwxQJpeV
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Post by chairmanrob on Oct 2, 2014 2:38:29 GMT
Have been desperately trying to ignore this comment for more than 24 hours because I know I'm wasting my breath. I Failed.
What a strange myopic view of the world you have.I don't have the figures to hand but since Bet365 was started by Denise in 2001 they have pitched in tens( almost certainly over 100 ) of millions in tax, not just corporation tax on profits but PAYE on jobs created from fuck all. Presumably the cancer suffering patients have more reason to thank you for your contribution in the last 13 years to their treatment than to the Coates family, otherwise you would'nt have the sheer fuckin front to take them to task for tryin to streamline their business.
If only the Coates family was as generous and successful as you then all of the world's ills would be solved overnight
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Post by Eggybread on Oct 2, 2014 8:03:32 GMT
Have been desperately trying to ignore this comment for more than 24 hours because I know I'm wasting my breath. I Failed. What a strange myopic view of the world you have.I don't have the figures to hand but since Bet365 was started by Denise in 2001 they have pitched in tens( almost certainly over 100 ) of millions in tax, not just corporation tax on profits but PAYE on jobs created from fuck all. Presumably the cancer suffering patients have more reason to thank you for your contribution in the last 13 years to their treatment than to the Coates family, otherwise you would'nt have the sheer fuckin front to take them to task for tryin to streamline their business. If only the Coates family was as generous and successful as you then all of the world's ills would be solved overnight Im sorry but I do not measure being successful in my life by how much money I have made.There is a saying that a rich man dies in disgrace which in your view of the world may seem a tad strange.The point I am making is that if all of these companies including bet365 paid their taxes then yes a lot of this countries woes would be solved.I would give my last £1 to someone who I thought needed it WOULD YOU? What other reason would they move to Gibraltar.Yes they have moved so they can remain competitive ,but the whole system of avoidance for whatever reason fucking stinks .
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Post by fca47 on Oct 2, 2014 8:23:35 GMT
As has been said before the move is primarily about regulation not tax. Anyway there is a lot of hipocracy about. Patricia Hodge who is driving a lot of this publicity receives much of her income via a trust most of the income from a large trading company which has a turnover in the billions of pounds, but mysteriously on pays about 2% tax.There's your champion of fairness.
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Post by ohbottom on Oct 2, 2014 8:43:53 GMT
As has been said before the move is primarily about regulation not tax. Anyway there is a lot of hipocracy about. Patricia Hodge who is driving a lot of this publicity receives much of her income via a trust most of the income from a large trading company which has a turnover in the billions of pounds, but mysteriously on pays about 2% tax.There's your champion of fairness. Interesting. How do you know this? I ask because I'm the sort of sad anorak who likes to dig into this sort of stuff
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Post by drjeffsdiscobarge on Oct 2, 2014 11:52:46 GMT
Have been desperately trying to ignore this comment for more than 24 hours because I know I'm wasting my breath. I Failed. What a strange myopic view of the world you have.I don't have the figures to hand but since Bet365 was started by Denise in 2001 they have pitched in tens( almost certainly over 100 ) of millions in tax, not just corporation tax on profits but PAYE on jobs created from fuck all. Presumably the cancer suffering patients have more reason to thank you for your contribution in the last 13 years to their treatment than to the Coates family, otherwise you would'nt have the sheer fuckin front to take them to task for tryin to streamline their business. If only the Coates family was as generous and successful as you then all of the world's ills would be solved overnight Im sorry but I do not measure being successful in my life by how much money I have made.There is a saying that a rich man dies in disgrace which in your view of the world may seem a tad strange.The point I am making is that if all of these companies including bet365 paid their taxes then yes a lot of this countries woes would be solved.I would give my last £1 to someone who I thought needed it WOULD YOU? What other reason would they move to Gibraltar.Yes they have moved so they can remain competitive ,but the whole system of avoidance for whatever reason fucking stinks . Ok, that's a start... at least you've stopped calling it tax evasion now. I have a question for you - if I told you I could legally reduce the amount of tax you pay annually by say 5-10%, would you take me up on the offer?
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