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Written Answers - Tax Code

Thursday, 9 February 2012

Dáil Éireann Debate
Vol. 755 No. 1

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 69.  Deputy Maureen O’Sullivan Information on Maureen O'Sullivan Zoom on Maureen O'Sullivan  asked the Minister for Finance Information on Michael Noonan Zoom on Michael Noonan  his views that layers in the betting industry, that is individuals who take and lay a bet and who operate without a betting licence, should be liable for tax as per all other bookmakers here; if he acknowledges that betting exchanges will only pay a 15% gross profit tax on their commission, which is at the discretion of the exchange and, thus, tax collected on it would fluctuate greatly; and if he will make a statement on the matter. [7517/12]

Minister for Finance (Deputy Michael Noonan): Information on Michael Noonan Zoom on Michael Noonan The proposed betting (Amendment) Bill, which is being drafted at present, will amend the 1931 Betting Act to inter alia establish the regulatory framework for the licensing of remote bookmakers and betting exchanges, including measures to enforce the regulatory framework. The drafting of the Bill, which is fairly complex, is well advanced. The Finance Act 2011 contained measures to allow for the extension of the 1% betting duty to remote bookmakers and for a 15% gross profit tax to betting exchanges. The taxation provisions are subject to a Ministerial Commencement order which can only be commenced when the Betting (Amendment) Bill is enacted. In relation to the taxation treatment of betting exchanges, it is the operator of the betting exchange that will be liable to the gross profit tax which is also the position in the UK.

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