In countries like the United Kingdom, many residents enjoy the benefits of casino tax holidays. These reductions can mean as much as 20 percent in taxes paid on deposits and winnings at casinos in the UK. Although not all residents are able to take advantage of these reductions, they are more likely to do so if they have an offshore casino account. In fact, the practice is so popular that many high profile celebrities have been recorded taking their money out of offshore accounts. The practice, however, is not limited to celebrities but also to regular UK citizens and now a new high profile business magnate from Malaysia is making his foray into the world of gambling by opening a Lim Shui-themed casino.
The founder of the Lim Shui-based Lim Shui Consulting Company, Lim Siow Jin, has already made it big in the world of business. He has made an impressive name for himself as an entrepreneur and investor in different fields including property, travel, telecommunications, electronics, and education. At the moment, he is focused on his newly established casino business. This may seem an unusual move considering that most entrepreneurs are usually drawn to one industry or another but this is because Lim Shui is not only a business that promises high returns but also one that requires a great deal of expertise.
One of the most important factors that make up a successful business venture is tourism. In this respect, the UK’s hospitality industry is certainly no exception to this rule. And as it is tourism that is in demand among the number of tourists that come to the UK each year, then it makes sense that Lim Shui consultants could have a lucrative business in this sector. But one area that has lagged behind other parts of the UK when it comes to attracting tourists is its tourism industry and it is here where the government is keen to provide tax breaks for those who wish to open casino gambling establishments in the UK.
The latest announcement by the UK government on its planned casino tax holidays is part of its plan to revitalize the UK’s economy. This is why it has been seen as a wise move by the casino industry itself. After all, what good would it do for the UK’s economy if casino operators feel that they are being subsidized? What good would it do for the average Joe working on a construction job? Of course nothing really substantial really and what the casino operators are mostly concerned about is that they will get to keep much of the money that they earn from their customers.
So, how does the UK government plan to lure more tourists to the UK’s casinos? The answer lies in its plans to offer tax holidays to them. It should be noted here that casino operators will find this to be a double edged sword. For instance the government may find that offering tax breaks for these operators could lead to a decrease in the number of casinos in the UK. On the other hand, a low level of investment into these casinos might lead to the rise of online casinos as these operators can take advantage of tax cuts to expand their business.
However, there are ways through which you can avail of such a break. The government could offer an online casino license to these operators, which will enable them to operate online. However, the license would be free of charge. The idea of the government offering a casino license to online casino operators is to provide them with some kind of financial support which will help them to increase their capital base. If the online casino operators feel that they need more capital, then it is only natural that they will seek to increase their holdings. In fact, this is what the casino industry needs in order to survive and prosper.
The government is also trying to encourage online casino operators to set their casino shops near to residential areas. This is because it is thought that casino operators who have access to residential homes will be less likely to be involved in tax evasion. However, there is an important caveat in this. You see, if you set up your casino shop too close to your neighbors, then the police will become involved in the investigation of your activities.
These are just a few of the things that you should know about casino tax holidays. The concept of casino tax holidays has been introduced in order to encourage online casinos to expand their business. If you too want to avail of such a break, then you should make sure that you check out the details of the incentive being offered to you. The incentives offered by different governments around the world can have an immensely positive effect on your business, but you have to make sure that you get all the information before you take advantage of them.