Request for submissions from industry stakeholders
The Irish Government’s Department of Finance has embarked on a betting tax review backing a commitment by Oireachtas, Minister of State Eoghan Murphy delivered during discussion on the country’s Finance Bill 2016.
As part of the Tax Strategy Group 2017, the review will focus on the roll out of the betting tax regime in 2015 and importantly, the likely impact of an increase in the rates of betting duty on Exchequer revenues.
The review will cover the bookmaking industry as a whole, including the remote sector, along with the impact unlicensed operators have in plying their trade in the market.
The review invites submissions on a host of aspects under the current tax system, specifically:
– The inclusion of the remote sector into the betting regime under the Betting (Amendment) Act 2015;
– Is the existing model of turnover tax, with different approach to betting exchanges, the most appropriate for the industry at this time?
– What is an appropriate level of betting tax and the equivalent tax on betting exchanges commissions?
– What would be the impact of a move from taxing the bookmaker to taxing the punter i.e. either a percentage tax on all bets placed but paid by the punter rather than the bookmaker, or a (higher) percentage on winnings paid by the punter?
Submissions to email@example.com are required by the Tax Strategy Group no later than June 19, 2017.
Additional information can be accessed at: http://www.finance.gov.ie/news-centre/press-releases/betting-tax-review