No tax hike for Ireland in 2018

Finance Minister Paschal Donohoe will reexamine the tax increase in next year’s budget.

Ireland.- The government has delayed plans to double betting tax over fears of job losses and a surge in illegal gambling.

As reported by The Times, Donohoe considered three options that could have brought in an extra €50m from bookmakers and punters as part of a review of the 1% betting tax -one of the lowest in the world. However, multiple submissions from the betting and horseracing industry, addiction services and private individuals, led to the minister opting to push back plans to increase the tax on betting.

The betting industry said that an extension of the tax cold be “potentially damaging”, resulting in the closure of businesses and job losses.

Furthermore, taxing the punter could lead to them “seeking out alternative untaxed forms of betting or a move towards unlicensed operators.”