Ireland Close to Implementing New Taxation Laws

The new taxation laws to tax online gambling operators providing services to Irish punters, which has taken years to implement, seems close to finalization.

Finance minister Michael Noonan now confirms that the regulations currently await a signature from the president's office, which will see the laws implemented by the end of 2015.

The Reuters news agency wrote, "The new tax comes as Paddy Power and other major bookmakers such as Ladbrokesand William Hill grapple with tighter regulation and additional taxes in Britain, including duties on online betting and high-stakes gambling machines.

"Ireland first announced plans to bring online operators into the tax net in 2011, proposing that the 1 percent tax on bets placed in shops be extended to wagers made online or over the telephone from customers based in Ireland."

The report continues pointing out that worthy operators who have a license in another jurisdiction will be approved for an Irish gaming license and subject to taxation.

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