William Hill to move to Gibraltar
As discussed by Scott , Will Hill have confirmed this morning that they are going to move their business to Gib. Full press release available by clicking this text.
With the government keen for tax revenue and the horse racing industry desperate for levy revenue this is a bitter blow. But also, this is likely to trigger a move by competitors to follow suit. At the end of the day if some people are paying less tax and levy, gaining a competitive advantage, then management should act. I think this is why others will now follow suit, most have businesses already set up to do the same.
Incidentally, we have paid a bundle of tax in our time to HM Revenue services. But we note that other people in the same area are not doing so. At the end of the day, while nobody likes paying tax, it is an important part of the fabric of society and I believe everybody should pay their dues. I think that in an increasingly globalised world with low barriers thanks to tele-communciations this is a challenge for regional governments.
Category: General
