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Written Answers - Betting Regulations

Tuesday, 27 March 2012

Dáil Éireann Debate
Vol. 760 No. 3

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 129.  Deputy Dara Calleary Information on Dara Calleary Zoom on Dara Calleary  asked the Minister for Finance Information on Michael Noonan Zoom on Michael Noonan  the level of potential revenue losses to the Exchequer as a result of on-line betting; and if he will consider addressing the issue. [16365/12]

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 and it is my intention to publish the Bill in the second quarter. 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. It is estimated that the full year yield from the taxation of remote betting would be around €20 million.

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