Gibraltar Tax Change -- At the request of the European Commission, the UK has agreed to abolish the Exempt Company Tax Regime of its dependency Gibraltar by the year 2010. Under the Exempt Company Tax scheme, I-gaming operators licensed on the island have enjoyed a zero percent tax rate on income tax, paying instead a fixed annual tax of between £225 and £300. But last month the EC threatened the UK with court action because it suspected Gibraltar's tax scheme was a form of illegal subsidy that impeded competition and violated EC Treaty rules. Gibraltar's government will likely introduce a new tax rate for corporations while phasing the exception out completely by 2010.
Quoteworthy -- "In my view we're spending too much money on it, but we will spend the money because I want to get to the bottom of it. I'm sick of all the whingers out there who complain about what's happening in the racing industry; now they've got to put up or shut up. At the end of this inquiry, I never ever want to hear about another whinger talking about corruption or improper behavior in the racing industry."—Peter Beattie, Premier of Queensland, discussing the Daubney-Rafter Inquiry.
On February 6th the Daubney-Rafter Inquiry into corruption in Queensland's horse racing industry began. Earlier this week Premier Peter Beattie confirmed that the inquiry would continue for another three months, although it was originally planned to last only until the end of March. Beattie also stated that it would eventually end up costing more than A$3 million in tax dollars.
People's Court -- In China, the Supreme People's Court has pledged its support to fighting gambling by stating that it will strip gamblers of all their illegal wins and also heavily fine them. Gambling operators and organizers are to be severely punished.
Poker Rankings -- Williamhillpoker.com has signed a two-year deal with poker portal PokerinEurope.com to become the sponsor of European Poker Rankings, a ratings system that gauges the performance of professional poker players in Europe. In 2005, players' performance at 66 different tournaments (with over 300 individual events) will be taken into consideration for the ratings.
Appeal Rejected -- The Supreme Court of the Philippines has denied Sports and Games Entertainment Corp. (SAGE) its motion for reconsideration of a January 2004 ruling that voided the company's online gambling franchise. The Court ruled last year that Philippine Amusement and Gaming Corp. (PAGCOR) acted beyond the limits of its authority when it granted SAGE the right to operate sports betting and Internet gaming. The court ruled this week that SAGE has not presented substantial arguments to warrant the reversal of the decision.