Ireland considers switching betting tax to punters
Ireland’s Finance Department has launched a consultation into possible changes to gambling tax laws in the country.
According to Tax-News.com, the consultation will run as part of the Tax Strategy Group Process and look at the introduction of the current duty regime to remote operators and betting exchanges in 2015.
Due to run until June 19, the consultation will also consider the likely impact of an increase in betting duty rates on Irish Exchequer revenue and the betting industry as a whole.
One of the key aspects that will be looked at during the process is the possibility of moving a portion of the tax burden from the bookmaker to the punter, so that either a percentage tax will be introduced on all bets placed and will be paid by the punter, or a higher tax on winnings, to be paid by punters.
The consultation will also look at whether the existing model of turnover tax is the most appropriate for the industry, and if the country should look at different approaches to betting exchanges.
In addition, the Finance Department will focus on the appropriate level of betting tax and equivalent tax on betting exchange commissions.
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