Dáil Éireann debate -
Thursday, 4 Feb 1999

Vol. 499 No. 5

Written Answers. - Betting Tax.

Seán Power

Question:

85 Mr. Power asked the Minister for Finance the way in which his plans are progressing to introduce tax free betting at racecourses and dog tracks and to reduce off course betting tax from 10 per cent to 5 per cent; and if he will make a statement on the matter. [3157/99]

Minister for Finance (Mr. McCreevy)

Betting tax does not apply to bets placed on races at the racecourse or track. Instead an on-course levy applies.

As I announced in my Budget Statement on 2 December 1998, the proposal to cut the betting tax from 10 per cent to 5 per cent with effect from 1 July 1999 is contingent on new and satisfactory arrangements being put in place by the relevant sectors of the horse racing and greyhound racing industry to replace the on-course betting levy.

A facilitator has been appointed to negotiate with the various bodies concerned with a view to identifying alternative sources of funding for both the Irish Horseracing Authority and Bord na gCon to replace the income derived from the on-course betting levy.

The facilitator has not yet submitted his report. However, I have reason to expect that a satisfactory solution will be found and that I will be able to proceed with the plans announced in my Budget Statement. The necessary legislation will be published in the Finance Bill and will be subject to a commencement order.