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Bookies Win Battle Over Irish Betting Duty,
by Robin Pilgrim, LawAndTax-News.com, London
Tuesday, May 26, 2009
The government’s plans to double betting tax on Irish bookmakers
in May were repealed at the eleventh hour. The Irish Finance Bill 2009, as amended
by the Select Committee on Finance and the Public Service, included phrasing
to rescind the proposed hike.
The hike, which would have increased the betting duty to 2% from 1% under Section
67(1) of the Finance Act 2002, will remain at 1% and will be ‘deferred
indefinitely’, having never been enacted nor entered into effect.
Upon review of the sector, the government noted that doubling the tax would
only add additional burden on betting companies and provide nominal increases
in tax receipts. Instead the Department of Finance is to discuss with the sector,
how to increase the tax base in a ‘fair and workable’ manner. One
area in particular which it noted was the possibility of enforcing taxation
on online and phone betting, which currently provides little revenue.
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