‘Unacceptable’ delay in extension of betting tax

Fianna Fail’s finance spokesperson has described as “completely unacceptable” the continuing delay in successfully extending tax on betting and gaming firms to their online, as well as retail operations.

Michael McGrath was responding to a parliamentary reply from Finance Minister Michael Noonan, indicating that the long-standing plans for a 1% levy on bookmakers’ online operations had run into difficulty.

Mr McGrath said the rise in online and mobile betting has resulted in nearly 40% of bets placed by Irish punters now being made via such channels and that in the three years that the Betting Amendment Bill 2014 has been “stuck in limbo” since being provided for in the 2011 Finance Act, “upwards of €5bn in bets...have escaped the 1% betting duty, resulting in a loss to the Exchequer of some €50m. This loss is now growing at a rate of €1.5m a month,” he added.