Wednesday, 10 July 2019
Department of Finance
144. To ask the Minister for Finance the additional and total yield that has accrued to date in 2019 from increasing the betting tax from 1% to 2%; the projected yield for the year; the areas to which the revenue raised is apportioned for 2019; the amount allocated to the horse and greyhound training fund; and if he will make a statement on the matter. [30312/19]
145. To ask the Minister for Finance if a breakdown is available of the sports on which bets are placed from which the betting duty is raised; if he will amend the appropriate legislation to secure this or request the relevant companies to provide the data in a usable format; and if he will make a statement on the matter. [30313/19]
I propose to take Questions Nos. 144 and 145 together.
Betting Tax is paid on a quarterly basis and in arrears (i.e. the returns received in April 2019 cover the period January to March 2019. The first quarter returns yielded €22 million and it is estimated that €11 million of this amount arose from the increase in the rate to 2%. The second quarterly returns for 2019 covering the period April to June are due later this month.
Overall, Betting Tax is expected to yield €91 million in 2019 (which incorporates returns made in respect of the fourth quarter of 2018, based on the 1% rate), an increase of €39 million compared to the €52 million collected in 2018. Most of the forecasted increase is due to the change in the rate.
Betting duty receipts go to the Central Fund. Section 12 of the Horse and Greyhound Racing Act 2001 provided that the Horse and Greyhound Fund would each year be financed by an amount equal to the revenue from excise duty on off-course betting in the preceding year or the year 2000 funding levels increased by reference to the Consumer Price Index, whichever was greater. This formula applied for the years 2001-2008. However since 2009, the level by which the Fund is to be increased has been decided by the Minister for Agriculture in the context of the annual budgetary process.
I am advised by Revenue that a breakdown is not collected from Bookmakers of the events on which bets are placed for the purposes of Betting Duty. Betting Duty is applied based on a rate of 2% of the value of any bet entered into with a bookmaker. It is not necessary for Revenue to collect information on the underlying events linked to bets which are liable to Betting Duty.
Accordingly, I have no plans to amend legislation for the purposes of collecting information on the events giving rise to bets which are liable to Betting Duty.