Submitted on Tuesday 27th October 2015
Published on Tuesday 27th October 2015
Current status: Closed
Closed: Wednesday 27th April 2016
Signatures: 15
Introduce 20% VAT on all forms of betting including online gambling etc
Online betting is being encouraged by high profile media advertising and sponsorships. It is a huge industry and the tax revenue it could generate would go a long way toward balancing the nation's books. In addition to this the act of taxation may discourage certain people from becoming addicted.
The UK Gambling Commission (UKGC) revealed financial figures for the 12 months ending September 2014 which showed the UK gambling industry is worth £7.1 billion, not including the National Lottery. These figures alone would achieve tax income of £1.42 billion
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