{"id":9247,"date":"2012-05-14T07:55:38","date_gmt":"2012-05-14T07:55:38","guid":{"rendered":"http:\/\/www.gaming-awards.com\/NEWS\/?p=9247"},"modified":"2012-05-14T07:55:38","modified_gmt":"2012-05-14T07:55:38","slug":"irish-taxman-welcomes-plan-for-cash-strapped-government","status":"publish","type":"post","link":"https:\/\/gaming-awards.com\/NEWS\/irish-taxman-welcomes-plan-for-cash-strapped-government\/","title":{"rendered":"Irish taxman welcomes plan for cash-strapped government"},"content":{"rendered":"
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A tax turnover of 1% on internet gambling companies handling Irish bets could be passed in a bill before summer recess of parliament, reports the Irish Examiner. Companies like Paddy Power, Boyle Sports, William Hill & Ladbrokes will be among the well established companies, which are also said to be the easiest targeted betting companies, whilst a special 15 percent tax on gross profit has been devised for betting exchanges like Betdaq & Betfair<\/a>.<\/p>\n

“Some of the larger mainstream operators have welcomed the tax initiative, but are concerned about the government\u2019s ability to create a level playing field & succeed in taxing all companies who generate revenue from Irish customers via their online offerings,” the newspaper reports.<\/p>\n

Research commissioned by Betfair & carried out by professional services independent PricewaterhouseCoopers has estimated that the taxes proposed by the government would absorb 77 percent of the market between 2013 to 2016 & net Euro 49.8 million in tax revenues for the Irish taxman. Ladbrokes recently said that it wanted a standard 7.5 percent gross profit tax for both bookmakers & exchanges, while Betfair has expressed satisfaction with the current proposals, but would rather see the entire industry taxed on a gross profit basis.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

A tax turnover of 1% on internet gambling companies handling Irish bets could be passed in a bill before summer recess of parliament, reports the Irish Examiner. Companies like Paddy Power, Boyle Sports, William Hill & Ladbrokes will be among the well established companies, which are also said to be the easiest targeted betting companies, whilst a special 15 percent tax on gross profit has been devised for betting exchanges like Betdaq & Betfair.<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[17,23,19],"class_list":["post-9247","post","type-post","status-publish","format-standard","hentry","category-igaming","tag-gambling","tag-gaming-2","tag-online"],"yoast_head":"\nIrish taxman welcomes plan for cash-strapped government - iGaming Post<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/gaming-awards.com\/NEWS\/irish-taxman-welcomes-plan-for-cash-strapped-government\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Irish taxman welcomes plan for cash-strapped government - iGaming Post\" \/>\n<meta property=\"og:description\" content=\"A tax turnover of 1% on internet gambling companies handling Irish bets could be passed in a bill before summer recess of parliament, reports the Irish Examiner. 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