Ireland Online Gambling Tax

Four years ago, Finance Minister Michael Noonan proposed a 1% tax on online gambling but the subsequent Betting Amendment Bill was significantly held up in Europe. Ireland (Other OTC: IRLD - news) 's stalled plan to tax online gambling has been sent to the president to be signed into law, finance minister Michael Noonan said on Thursday, clearing the way to begin imposing the levy on bookmakers this year. The new tax comes as Paddy Power (LSE: PAP.L - news. Online casino Ireland. That’s why Ireland is referred to as a tax haven. After impressive growth numbers, 7 percent between 2001 and 2004, and 10 percent. Poker, casino gambling and sports betting are all considered to be tax-free, and have been for the last decade. That’s not to say there is no tax levied on these industries, but in the UK it is the operators who have to pay 25% tax on their income.

The moves come as it was revealed there has been a 30% rise in gamblers seeking help.

But an overhaul of gambling laws would spell the end for the planned €460 million super-casino in Tipperary, with the development of Las Vegas-style resorts being ruled out.

However, the developers vowed to press ahead with their plans.

Businessman Richard Quirke, the main backer of the venue, said he would examine plans without a casino or with a smaller one.

Proposals to modernise the gambling industry include:

* Allowing a limited number of moderate-sized casinos.

* Checking and assessing the history and finances of gambling promoters.

* Banning large gambling resorts over fears of attracting “undesirable” elements.

* Prohibiting fixed-odds betting terminals.

* Closing loopholes for online gambling, including setting taxes.

* Charging a levy for help and education services.

Ireland Online Gambling Tax Credit

Departments are also examining changes to taxes that could yield up to €100m annually from online gambling and betting shops. But laws are unlikely to be drafted until next year.

Ireland Online Gambling Tax Rates

Dublin’s Rutland Centre warned it had seen a 30% rise in people presenting for help with gambling.