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  1. Strike the right betting balance

    Posted Sep 07th 2011, 12:00am

    ... to the community. An example is a deal between official Australian and South African betting agencies to set up a global hub for exchanging bets between different jurisdictions in a tax haven to enable aggressive pricing. The arrangement is called commingling, in which the participants split profits from betting and each negotiate tax arrangements with their own governments. The Jockey Club wants ...

  2. Jockey Club Mulls offshore betting move

    Posted Sep 04th 2011, 12:00am

    ... different jurisdictions, but also based in a tax haven to enable aggressive pricing. And this development has the Jockey Club worried. 'If we are not part of commingling, then we are rivals ...

  3. Jockey Club urges betting-tax reform to stop fall in revenue

    Posted Jun 21st 2004, 12:00am by Murray Bell

    ... Murray Bell The Hong Kong Jockey Club last night warned the government that failure to reform the way horse racing is taxed will result in a further drop in revenue next season. Chief ... at the same meeting last year. Pulling no punches at the traditional end-of-season press conference, Mr Wong emphasised that the average tax of 13.5 per cent on all bets in Hong Kong was the highest ...

  4. Tax revenue to exceed expectations

    Posted Mar 11th 2004, 12:00am by Ella Lee, Stella Lee

    ... Stella Lee Tax revenue generated from soccer betting is expected to reach $1.8 billion in the next financial year, 20 per cent more than the government's original estimate. The government revised its forecast after reviewing turnover since legalised soccer betting was launched on August 1 last year. In July, the Jockey Club said it expected total profits of about $3 billion ...

  5. Tax reform 'key to recovery'

    Posted Apr 06th 2006, 12:00am by Alan Aitken

    ... Alan Aitken Jockey Club plan to lure illegal punters back into fold The Hong Kong Jockey Club believes tax reform will create new turnover from abroad and return illegal domestic turnover to a taxable regime. The move from a turnover tax to a gross profits tax has still to pass through the Legislative Council, but Tuesday's approval by the Executive Council was a victory ...

  6. Tax reform still tops club's agenda

    Posted Sep 02nd 2005, 12:00am by Murray Bell

    ... as illegal operators made no such deduction. The club has been pushing for a tax reform that allows betting duty to be levied on profits instead of turnover. 'The proposed system... taxes ... of the illegal betting dollars for Hong Kong,' Mr Arculli said. 'Tax reform will give us a powerful array of measures to fight illegal operators who target the under-aged or encourage people ...

  7. Top horses and tax changes point to a great new season

    Posted Sep 04th 2005, 12:00am by Alan Aitken

    ... with the government expected to approve changes to the club's tax structure by mid-season. The change from a turnover tax to a gross profits tax has seen very positive results in betting figures ...

  8. Racing tax reform a win-win proposition

    Posted May 15th 2005, 12:00am by Staff Reporter

    ... The Jockey Club's hard-fought campaign to overhaul how it is taxed has- at last- met with some success. Last week, the government put forward proposals for reform which, if implemented, will give horse racing a much-needed boost. They are long overdue. The key to the shake-up is a fundamental change in the tax structure for horse racing. For more than 30 years, duty has ...

  9. Club urges Singapore-style tax reform

    Posted Feb 25th 2005, 12:00am by Murray Bell

    ... the outdated turnover tax regime with a gross profits tax. Singapore Prime Minister Lee Hsien Loong used the platform of his annual budget speech to announce that horse-betting duties would be changed ... no announcement that the government will accept the club's proposals on wagering tax reform, despite the fact the outdated way of taxing bets has seen turnover in freefall for seven straight years, ...

  10. Sponsor's strategic shift raises question of value

    Posted Dec 01st 2011, 12:00am

    ... With Tim Noonan Strategic shifts are a normal part of corporate culture. When UBS decided it was no longer going to renew its title sponsorship of the Hong Kong Open, it simply stated in a press release the decision was 'part of a strategic shift in ...




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