Dáil Éireann Debate, Wednesday - 16 January 2013
130. Deputy Michael McGrath asked the Minister for Finance the position regarding the Betting (Amendment) Bill; the progress that has been made on putting in place the structures to implement the proposed turnover levy on remote betting or Internet betting; if there is a specific timeframe for the introduction of the Bill; and if he will make a statement on the matter. [1060/13]
View answerThe Finance Act 2011 provides for the taxation of bets that remote bookmakers enter into with persons in the State. This means, for example, that a business which engages in online bookmaking and which accepts bets from people in this country will be liable for betting duty on those bets, irrespective of where that business is based. The existing betting duty (1%) will be applied to such bets. The Finance Act also provides for the taxation of Betting Exchanges under the new arrangements; however the calculation of the tax will take account of their particular business model, in other words a 15% tax on the commission charged. In addition, excise duties are being applied to the granting and renewal of remote bookmakers’ and remote betting intermediaries’ licences.
The Betting (Amendment) Bill, published in July 2012, will establish the regulatory framework for these licences. The tax changes provided for in the Finance Act can only be implemented once the Betting (Amendment) Bill is enacted. It is hoped that the Betting (Amendment) Bill will be put on the Dáil schedule early this year.
