Horse racing in Great Britain On 6 October 2001, the Government abolished the turnover-based tax on betting, which had been 9% of the stake or the winnings, the punter having the choice to pay a certain small amount or an uncertain large amount. The tax, now based on gross profit, is now effectively indirectly levied on the punters, the cost being absorbed in the odds that bookmakers offer. The last 10 years in the UK has seen massive growth in online gambling. Punters are now going online to place their bets, where technology gives them access to a greater wealth of information and knowledge. Now
Estate tax in the United States person, and it provided a top tax rate of 35 percent for the years 2011 and 2012. On January 1, 2013, the American Taxpayer Relief Act of 2012 was passed which permanently establishes an exemption of $5 million (as 2011 basis with inflation adjustment) per person for U.S. citizens and residents, with a maximum tax rate of 40% for the year 2013 and beyond. The permanence of this regulation is not ensured: the fiscal year 2014 budget called for lowering the estate tax exclusion, the generation-skipping transfer tax and the gift-tax exemption back to levels of 2009 as of the