By Sarah Smithon Monday, 9 Jun 2008 Double taxation is a threat to the bingo industry, one expert has asserted this week.
According to the Bingo Association, double taxation – i.e. paying both gross profit tax and VAT - is likely to have more of an impact on the industry than the credit crunch.
Steven Baldwin, communications manager for the Bingo Association, said: "The industry has lobbied for quite some time, that, as a result of changes in government policy, the industry is unfairly treated.
"We pay gross profit tax and VAT, whereas other sections of the gambling industry only pay gross profit tax."
He added that the implementation of the Gambling Act had been slightly disappointing, failing to bring the industry the freedom it had been searching for.
Mr Baldwin also noted that the bingo industry is being "asked to pay" for the cost of replacing the Gaming Board for Great Britain with the Gambling Commission, which he says costs £6 million extra to do the same job.
According to Mecca bingo, the double taxation process costs the bingo sector a whopping £85 million each year.
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