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Tax bill now with the president for signature alter years of debate.
Ireland's new laws designed to tax online gambling companies which access Irish punters, stalled for years by extensive discussions and delays, appears to be on the final stretch.
On Thursday finance minister Michael Noonan confirmed that the measure has been sent to the president's office for signature into law, which will make implementation possible by the middle of the year.
The Reuters news agency reports: "The new tax comes as Paddy Power and other major bookmakers such as Ladbrokes and 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 goes on to note that operators who are already licensed in another jurisdiction and are suitable will be granted licenses to provide betting services in Ireland...and pay the requisite taxes.
Paddy Power, Ireland's largest bookmaker, earns more than three quarters of its profit online and has said the tax would have cost it Euro 8 million last year, had it been in place. Its profit before tax for 2014 was Euro 167 million, although the new tax will push the company's effective taxation rate into a higher bracket.
Oink Country Love Slot Launches -
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Tim Chung Wins MPNPT Manchester -
The 288-runner £550 MPNPT Manchester Main Event today crowned its champion, awarding the bulk of the £150,000 total prizepool to the nine players surviving after two days of tournament poker at the Grosvenor Casino.
MPNPT Manchester Day 2 -
Day 2 of the £550 MPNPT Manchester Main Event saw 60 Day 1 survivors (from a total of 288 entries) and three intrepid last-minute registrants sit down to play to the final table.
Day 1B MPN Poker Tour Manchester -
Day 1B of the £550 MPNPT Manchester Main Event saw the field rise to 285, as players took full advantage of the whole-day re-entry period.
Day 1A MPNPT Manchester -
The £150,000 guaranteed MPNPT Manchester kicked off today in style – 74 poker players from all over Europe arriving at the Grosvenor Casino to contend the first of two starting days
Kung Fu Rooster Slot Goes Live -
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Sensational Sixes Slot Goes Live -
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3 New Betsoft Slots -
3 new Betsoft slot Games were also added this week to most online casinos allowing US players.
2017 Bodog Super Millions Poker Open -
The first events on the 105-tournament schedule have already been completed; there are three more tourneys on Thursday’s schedule, with a total of $34,000 in guaranteed prize money waiting to be won.
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