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08/12/2011
Online Betting Tax Worth €20M Per Year
The Irish exchequer could benefit by up to €20 million per year after online betting tax regulations are implemented, the Government has said.
Fine Gael Cork South TD, Noel Harrington, said the proposed extension of the betting tax would provide a significant boost to the Exchequer, which he claimed would be ring-fenced to provide additional supports for gambling addiction services.
Mr Harrington said that, to date, betting duties have only applied to bets placed in betting shops while bets placed by Irish punters either online or over the phone were essentially with offshore entities, falling outside the tax net.
Speaking on Thursday, TD Harrington said: “It is estimated that the Exchequer could benefit by up to €20 million in a full year by extending betting duty in this way. This money could, and should, be ring-fenced to provide for addiction services and supports.
“Given the increase in online betting and the prevalence of the smart phone, it makes sense to tap this sector to assist those struggling with gambling addictions."
The Minister added that the tax would "send a signal" to international betting operations that Ireland had relatively low taxes, making Ireland an "attractive possibility" for investment and employment opportunities.
(DW)
Fine Gael Cork South TD, Noel Harrington, said the proposed extension of the betting tax would provide a significant boost to the Exchequer, which he claimed would be ring-fenced to provide additional supports for gambling addiction services.
Mr Harrington said that, to date, betting duties have only applied to bets placed in betting shops while bets placed by Irish punters either online or over the phone were essentially with offshore entities, falling outside the tax net.
Speaking on Thursday, TD Harrington said: “It is estimated that the Exchequer could benefit by up to €20 million in a full year by extending betting duty in this way. This money could, and should, be ring-fenced to provide for addiction services and supports.
“Given the increase in online betting and the prevalence of the smart phone, it makes sense to tap this sector to assist those struggling with gambling addictions."
The Minister added that the tax would "send a signal" to international betting operations that Ireland had relatively low taxes, making Ireland an "attractive possibility" for investment and employment opportunities.
(DW)
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