The internet gambling operators who offer their gambling and wagering services to the people in the Irish online gambling market will have to consider the additional expenses that they will have to pay in taxes. This is due to the fact that these operators will be taxed a 1% govt. tax. This is confirmed following the proposal that was published by Michael Noonan, the Finance Minister of Ireland.
This proposal was published in the amendment of the Betting Bill 2012. This bill states that the govt. will apply a new tax of 1% on the betting operators. It also states that internet gambling exchanges such as Betfair will have to be taxed with a 15% tax on the gross profit of the exchange.
According to Michael Noonan, this newly proposed bill is going to provide an equitable and a fair regulatory and license system for all gambling and betting bookmakers. He also stated that the fact that the online gambling operators who run their operation offshore don’t have the betting levy applied on them means that there is no equal playing field between the different rivals.
This is due to the fact that they hold an advantage over the other gambling companies that are located inside of Ireland, so this law is going to level the playing field and create a fair environment.
This new bill is also going to allow the betting shops to open until ten o’clock at night instead of the current law that allows them to open until 6 o’clock only.