Tuesday 21 November 2017

Online bookies face levy

ONLINE bookies will be subject to a 1pc betting duty under proposed legislation published by Finance Minister Michael Noonan yesterday.

The Betting (Amendment) Bill 2012 would extend the 1pc betting duty to online and offshore bookmakers who until now have escaped the taxman.

The proposed legislation would also make online betting exchanges like Betfair subject to paying a 15pc gross profit tax.

Mr Noonan said: "This bill will bring into place a fair and equitable licensing and regulatory regime for all bookmakers and betting intermediaries.

"The fact that offshore bookmakers were not subject to the betting levy represented a competitive disadvantage to on-shore firms and also narrowed the State's yield from the levy."

The bill would also allow for shops to stay open until 10pm. Currently, shops cannot open here past 6pm unless there is an evening meeting in Ireland.

Irish Independent

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