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IRISH ONLINE GAMBLING TAX LAW WILL BE PUBLISHED EARLY 2012
December 7, 2011 : Minister of finance Michael Noonan is planning the extension of betting duty of 1 percent to remote betting, along with a 15 percent tax on the gross profits earned by betting exchanges from commissions.
Irish Finance Minister Michael Noonan says his plans to impose taxes on remote gaming companies, hopefully raising an additional Euro 10 million next year and around Euro 20 million annually from 2013, should be finalised in time for publication early in the New Year.
A Department of Finance spokesperson told the Irish Examiner that the move would cover online and phone betting and anyone wishing to offer such services will have to apply for a licence, to which a range of conditions would apply, including a requirement that the company would be liable for the payment of the new taxes.
However, the spokesperson was unable to clarify if it would be open to companies to pass on the cost to punters in addition to their betting stake, and the plan also raises issues about the government's ability to enforce compliance by betting companies operating outside of Ireland.
Somewhat hopefully, the spokesman opined that, as most companies that offer online betting in Ireland are significant operations, they will be compliant with the requirement to hold a licence.
Betting exchange services that facilitate players betting against each other will also be liable for a betting intermediaries’ duty. It is proposed that they will pay 15 percent tax on the gross profits they generate from commissions.
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PlaySugarHouse To Carry Konami Content -
Content provider Konami will provide its Gypsy Fire and Fortune Stacks slot games to Rush Street Interactive-operated PlaySugarHouse.com on an exclusive basis in the New Jersey real-money online and mobile wagering market.
ITF TERMINATES BETWAY SPONSORSHIP DEAL -
The International Tennis Federation (ITF) has reportedly terminated Betway’s three-year sponsorship partnership as an extension to their anti-match fixing and sports integrity policy.
GSA To Launch European division -
The expansion enables the GSA to better focus on the regional needs of its members outside of North America and underscores its recognition and commitment to growing European membership.
Paddy Power Trading Update -
Company prevails despite adverse sports and US election results; Trump success cost the group GBP 5 million, whilst punter successes took another GBP 40 million in Q4-2016.
Tabcorp SunBets project -
The details were revealed this week in an IT News article quoting Tabcorp's chief information officer, Kim Wenn, who described the SunBets project as Tabcorp's biggest global venture yet.
China Lottery Sales Up in 2016 -
The Chinese official news agency Xinghua reports that according to figures from the Ministry of Finance released Monday, Chinese lottery sales in 2016 rose 7.3 percent year-on-year to 394.64 billion yuan (about US$57.53 billion).
New chairman and a new director for 500.com -
Chinese online lottery operator 500.com has announced major executive changes to the company with the apparently amicable departure of director and chairman Man San Law, as well as director Weiguo Zhao from its board of directors, effective January 20, 2017.
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