Work on legislation to tax online bets placed in Ireland is “ongoing”, Ireland’s Minister for Finance – Michael Noonan – has said.
This news comes after Alan Shatter, Minister for Justice, Equality and Defence, announced in September that the government agreed to his proposals with work starting immediately on the plans
With his announcement, Minister Noonan stated that it is currently difficult to tax bets placed remotely by people in Ireland – such as online or on the phone – as they are being processed in other jurisdictions. He added the legislation would compel those seeking to operate here to obtain a licence and pay betting duty on bets placed within the State.
In a response to Labour’s Aodhán Ó Ríordáin, who raised a Topical Issues question on the funding of sports bodies, Minister Noonan said the lowering of betting duty from 2% to 1% and the migration onto online betting sites had seen revenue in the area fall from €54m in 2007 to €30m today.
Deputy Ó Ríordáin said 25 sporting bodies throughout the country were sharing €57m in State funding while the horse and greyhound industries were getting the vast majority of the €30m in betting tax. He said this pointed to a huge inequity in sports funding.
Back in December, the government prepared for the new laws by stating firms catering for Irish customers without a license would face “a range of sanctions”. Current laws date back to 1931, in the case of betting, and 1956, in terms of betting. The new law will bring both these under the umbrella term “gambling” and attempt to address loopholes that exist.
