Ireland to Tax Online Gambling?
May 27, 2010 (CAP News Wire) – Echoing the movement currently underway in North American political circles on the same topic, Ireland has announced a plan to license and tax all online gambling activities within its borders.
“Legislation is to be brought in which will see the introduction of licenses for overseas betting providers in order for them to be permitted to sell their products in Ireland,” according to CardPlayer.com.
Brian Cowen, Ireland’s Taoiseach (prime minister) commented: “This will have the additional benefit of facilitating the extension of the tax regime for the betting industry to all those providing online and telephone betting and so underpin funding for the racing industry. … Such betting must be brought within the tax net, not just because it will increase revenue, but also because it will mean that those currently not contributing to securing the future of important indigenous industries will now make that contribution.”
What’s this mean for the international iGaming community? If the legislation is successful, operators outside of the Republic of Ireland will have to apply for a license to operate online gambling services within its borders. “The new system is believed to be a move to secure funding for the country’s racing industry,” adds Bluff Magazine Europe.