Pearse Doherty
Question:264. Deputy Pearse Doherty asked the Minister for Finance the estimated return to the Exchequer from increasing the tax on betting shop profits from 1% to 5%. [38297/12]
View answerDáil Éireann Debate, Tuesday - 18 September 2012
264. Deputy Pearse Doherty asked the Minister for Finance the estimated return to the Exchequer from increasing the tax on betting shop profits from 1% to 5%. [38297/12]
View answerIt is assumed that the Deputy is referring to an increase in the rate of Betting duty, which currently stands at 1% and which is on top of other taxes such as corporation tax and income tax as appropriate. I am informed by the Revenue Commissioners that if the rate was increased from 1% to 5%, the yield would be in the region of €135m in a full year. However, this is a straight line calculation and does not take account of the impact of such a rate on betting activity or any other variables.