Gibraltar to Raise Tax on Online Operators

One of the most popular gaming licensing jurisdictions is set to raise corporation tax to meet EU regulations.

Gibraltar has been the place where many online gaming operators have gained their gambling license from. Many even established their headquarters in the small country.

Up until now all gaming companies paid 1% tax up to £425,000 annually but from January 1st 2011 a new rate of 10% will be in place and will force gaming operators to fork out a larger chunk of their revenue.

Operators are not expected to change licensing jurisdictions due to this is they will still enjoy exemption from VAT, which means that Gibraltar will continue to be an attractive place for major online gambling operators.