Surely the impact of a doubling of the tax rate to 2 percent ought to have been taken into account earlier than this?
Irish betting companies received a reprieve, albeit temporary, late Thursday when minister of finance Paschal Donohoe announced that the government’s plan to increase betting tax from 1 percent to 2 percent of turnover has been placed on hold pending a review of its impact.
InfoPowa readers will recall recent protests particularly among independent bookmakers that the doubling of the tax will cut into already thin margins and could lead to betting shop closures and the loss of jobs.
Donohoe said the plan is now to delay the implementation of the new tax (originally set for January 1 next year) until the tax impact review has been completed, probably some time in the first quarter.
The Irish Times reported that the Irish Bookmakers Association (IBA) has persuaded a number of parliamentarians to propose alternative and more reasonable gambling tax arrangements as the long-running debate continues.