US Committee to Review Online Casino Taxation
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The United States House Committee on Ways and Means has announced that it will review tax proposals related to online gambling on Wednesday May 19th. The committee, which has jurisdiction over taxation, will discuss the tax and revenue possibilities stemming from legalising online gambling in the US. At the moment, the Unlawful Internet Gambling Enforcement Act (UIGEA) states that it’s currently illegal to process online gambling funds. The next instalment of the legislation, which indicates that all financial authorities must fall in complete compliance with the UIGEA, will be introduced on the 1st June.
The Ways and Means Committee has suggested that the hearing will focus on current tax legislation relating to gambling in the United States and will also consider both pending gambling legislation (such as the UIGEA), as well as proposals to legalise online casinos and poker rooms. It’s believed that the committee will place emphasis on the possible benefits of legalising online gambling, as well as information gathered by the Department of the Treasury’s research into the “electronic commerce” aspects of internet gambling. Members of the committee include politicians who have expressed an interest in legalising and regulating online gambling, including House of Representatives member Shelley Berkley, who first spoke out about the UIGEA in 2006. If you wish to take part in the hearing, you can do so by visiting www.WaysandMeans.House.gov.
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