Amount of annual liability

Current

The betting operator’s liability (annual liability) for betting tax for the financial year is—

(a)

if the betting operator does not have any relevant liabilities for the financial year—the annual betting tax amount for the betting operator for the financial year; or

(b)

if the total amount of the relevant liabilities of the betting operator for the financial year is equal to or more than the annual betting tax amount for the betting operator for the financial year—nil; or

(c)

if paragraphs (a) and (b) do not apply, the difference between—

(i)

the annual betting tax amount for the betting operator for the financial year; and

(ii)

the total amount of the relevant liabilities of the betting operator for the financial year.

This Act’s bill:Explanatory memorandum Second reading speech

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36 Amount of annual liability