Higher Levy from Bookmakers in Ireland?

Nov 24, 2010
Proposal comes from horseracing trade body Over the weekend we could witness the Irish horseracing industry taking action, as the country's economic situation worsened and the prospect of EU bail-outs became more probable. According to the Irish Independent newspaper, the Irish Thoroughbred Breeders' Association (ITBA) has asked for a one-percent increase of the levy paid by bookmakers, to two percent. This proposal was explained by the reduction it will cause to the need for the Government subsidization. "Up to 85 percent of bookmakers' turnover comes from racing and Ireland had the lowest rate of betting tax in the world," Dr Dean Harron, ITBA president explained. However, most likely the bookmakers will oppose to the proposal, especially due to the fact that the levy was reduced from two to one percent merely two years ago. In favor to the proposal, the Association quoted economist Colm McCarthy, stating that EUR60 to 70 million could be raised with the increased levy per year, and that it is too simple to evade alternatives like a betting duty on telephone or internet betting, so that its call is for licensing of internet, telephone and betting shops.
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