Written answers

Wednesday, 11 January 2012

Department of Finance

Gambling Regulations

8:00 pm

Photo of Maureen O'SullivanMaureen O'Sullivan (Dublin Central, Independent)
Link to this: Individually | In context

Question 64: To ask the Minister for Finance if he will consider the implementation of a licensing system to regulate all forms of gambling activity, and the reform of the current taxation system with a taxation on profits rather than on turnover for the betting industry; and if he will make a statement on the matter. [40901/11]

Photo of Michael NoonanMichael Noonan (Limerick City, Fine Gael)
Link to this: Individually | In context

The Finance Act 2011 contains legislation that, subject to a Ministerial Commencement Order, provides for the extension of betting duty to remote bookmakers and betting exchanges. The tax changes provided for in the Finance Act can only be implemented once the Betting (Amendment) Bill, which will provide for a regulatory and licensing regime, is enacted. The Betting (Amendment) Bill 2011 is currently at an advanced stage of drafting. The proposed licensing regime will make it a condition of the license for the operator to collect the betting duty with the licensed operators being liable for payment of the duty. It is expected that by including this high-growth area of the betting sector, particularly given the increasing prevalence of smart phones, the tax base from betting will be boosted significantly. In a full year it is expected that the tax yield could grow up to €20 million depending on the prevailing market conditions.

Just as important is the positive signal this measure will convey to international betting operations that have expressed an interest in or have already invested in Ireland. A location with an appropriate licensing framework coupled with relatively low taxes provides real investment and employment opportunities in this sector.

The Deputy may wish to note that my colleague the Minister for Justice and Equality received Government approval last July for the preparation of a new comprehensive Bill on Gambling. The Bill proposes to bring together under a single enactment the regulatory environment for all types of gambling, including the repeal of the Betting Act 1931.

Comments

No comments

Log in or join to post a public comment.