| Posted by: ian_go at May 26, 2005, 1:20 pm | | Topic: Gaming companies to meet with Minister of Finance Forum: Winner Online |
Gaming companies meet with Cort
Thursday May 26 2005
ANTIGUA SUN
The issue of income tax has seemingly taken a backseat as Internet gaming companies await clarification on the United States' measure of compliance with the World Trade Organisation's (WTO) landmark decision on Internet gaming and cross border trading.
Spokesperson for the Antigua & Barbuda Offshore Gaming Association Ronald Maginley told the SUN there were about four companies that had gained licenses in other jurisdictions, "but continue to wait for clarification with regard to the WTO decision."
These companies will be meeting with the Minister of Finance Dr. Errol Cort tomorrow (Friday) to hear the minister's account of his discussions with the US at the Geneva-based meeting last week.
It was reported that the US Ambassador to the WTO had stated at the meeting before the WTO dispute settlement body that the US would comply with the final ruling of the WTO Appellate Body.
However, the issue that concerns many is the measure of compliance or rather the US" interpretation of the WTO final ruling.
"If there is a dichotomy between our understanding and that of the US, then we may need to go back to WTO and seek further clarification.
"If the US has adopted our interpretation of the decision, which is full access to the US markets, then it is the ictory that we were expecting and Antigua & Barbuda can expect significant growth in the Internet gaming sector," Maginley said.
Initial statements from the US clearly indicated that US trade officials felt that they would only need to tweak some areas of legislation, especially as it related to Internet gambling on horse racing, in order to comply with the WTO ruling.
"The challenge has always been about moving quickly, being mindful that the UK is already preparing regulations for the sector. If Antigua & Barbuda is to benefit fully from the ruling then we must gain access and leverage to provide a strategic advantage," he added.
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