I am informed by the Revenue Commissioners that profits from the selective laying of bets on betting exchanges by persons other than licensed bookmakers would not be subject to income tax, nor would stamp duties, VAT or capital gains tax apply. In the case of a betting exchange established in the State, the commission charged to customers is chargeable to VAT at the standard rate of 23 per cent. An exemption from VAT will apply, however, in the case of a remote betting intermediary, within the meaning of section 64 of the Finance Act 2002, in respect of the supply of services the consideration for which consists of commission charges that are subject to betting intermediary duty imposed by section 67B of that Act. The coming into operation of betting intermediary duty, and the exemption from VAT for the supply of services to which that duty applies, are subject to Ministerial commencement orders. The making of those orders would follow the enactment of the proposed Betting (Amendment) Bill that is being drafted at present and which will provide the regulatory framework for the licensing of remote betting intermediaries and bookmakers.