- DOUBLING THE BETTING tax will bring in extra money for the State – but will also turn Ireland into 'one of the more penal' gambling markets in the world, according to industry analysts. In yesterday's budget speech, Paschal Donohoe confirmed that Irish gambling tax will be doubled from January 2019, increasing from 1% to 2% for both.
- Betting Duty rates; Betting Duty. Bets entered into by a bookmaker or remote bookmaker with persons in the State. On-course or tote bets. Betting Intermediary Duty.
Ireland's plan to impose a one-percent tax on bets made online or over the phone from customers based in the country has been delayed into 2015, according to reporting from Reuters.
The country has been eyeing extending the tax to the online space since 2011.
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Barry O'Halloran Paschal Donohoe said that it was 'timely' to increase the current 1 per cent rate levied on all bets placed in the Republic of Ireland to 2 per cent for all bookmakers.
According to the report, the delay is seen as a small win for online bookmakers like Paddy Power. The report said that the change has been delayed because Malta 'raised concerns over the licensing laws for operators who are already licensed by another jurisdiction.'
'As soon as the standstill period is completed, it is my intention to progress all remaining stages of the Bill through the Oireachtas (parliament),' Finance Minister Michael Noonan said in a parliamentary reply to an opposition spokesman that was published on Sunday.
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Nearby London reportedly is also about to close a loophole that currently allows firms to minimize tax bills on online earnings by basing their operations offshore.
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