Thomas P. Broughan
Ceist:43 Deputy Thomas P. Broughan asked the Minister for Finance if he expects the betting (amendment) Bill to be published during this session; and if he will make a statement on the matter. [29911/12]
Amharc ar fhreagraWednesday, 20 June 2012
Ceisteanna (46)
Freagraí scríofa
The 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 tax on the commission charged. The proposed Betting (Amendment) Bill, which is being drafted at present, 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. This Bill is well advanced and it is hoped that it will be published this session.