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      UK Government Confirms Amendments in Gambling Duties

      UK Government Confirms online-casinos-vip.com Amendments in Gambling Duties

      The UK government approved on Wednesday the proposed escalation in Gaming Duty bands on gross video gaming yield generated by UK-licensed casino operators included in the country’s 2016 spending plan.

      The rise could be effective for accounting periods beginning on or after 1 april. Currently, operators comply with the bands occur the Finance Act 2015. Income tax rates at current stand at 15% to 50per cent. Basically, operators spend a 15% tax on the&pound that is first million associated with gross gaming yield they produce. Then, the tax paid rises 20% for the following £1.6 million, 30% for he next £2.8 million, 40% for the&pound that is next million, and 50% for gross gaming yield of significantly more than £5.6 million.

      No information was supplied on how much the current Gaming Duty bands is increased. Comprehensive details are lay out within the Finance Bill that is upcoming 2016.

      Casino operators will likely be anticipated to submit two returns when spending their responsibility. The initial, an interim return, will need to be submitted by the conclusion of the first 3 months for the accounting duration. The 2nd a complete return will have to be submitted by the end associated with accounting period, which can be typically a six-month one.

      The UK government also announced on Wednesday that certain reforms will likely be implemented in the means ‘freeplays’ in the Remote Gaming Duty is treated. Those will likely be amended in a fashion that would bring them based on the General Betting Duty. (далее…)

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      Bankruptcy Case May Cost Caesars $5.1 Billion in Damages

      Bankruptcy Case May Cost Caesars $5.1 Billion in Damages

      Caesars Entertainment Corp. (CEC) may address $5.1 billion in damages pertaining to a number of business deals that triggered its operating that is main unit for Chapter 11 bankruptcy protection. That was just what an unbiased examiner said on Tuesday upon publishing the results from a year-long investigation associated with $18-billion financial obligation case involving one of the planet’s biggest gambling operators.

      Former Watergate investigator Richard Davis and a team of solicitors were appointed last year to examine a lot more than 8 million pages of documents and interview 92 people with regards to Caesars Entertainment Operating Company’s (CEOC) bankruptcy filing.

      Carrying out a over a year-long probe, Mr. Davis and their peers learned that Caesars, which will be owned by Apollo worldwide Management and TPG Capital, disposed of prime properties, therefore making the company unable to cover a debt that is huge.

      The investigation ended up being initiated last year, following a band of junior creditors, led by Appaloosa Management, claimed that CEOC, known to be Caesars’ main operating device, was in fact stripped clean of its most useful properties and this had benefited the gambling business as well as its owners.

      Mr. Davis said in their 80-page summary associated with instance that the major operator may face between $3.6 billion and $5.1 billion in damages for claims for the fraudulent disposal of assets and violation of fiduciary duties against officials of both CEOC and CEC. (далее…)

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