More and more countries are getting concerned with the remote gaming companies, who operates within their country without paying any sort of tax to the local government. One of those countries is Ireland, who wants to eliminate the operators who operates out of tax-haven’s and instead force them to purchase a license to operate.
By doing so, it will be illegal for operators to target the Irish market directly without having the license, just as players will be urged to register with gaming sites holding an Irish license only. The new license and tax will be provide the Irish Government with upwards of €25 million extra taxes yearly.
“In recognition of the importance of the Irish bloodstock industry to the rural economy and the anticipated yield of €25 million per annum from betting duty, the government will be providing an additional €6 million a year for three years to the fund for horse and greyhound racing,” Michael Noonan, National Minister for Finance said.
“The government is also allocating additional capital of €5 million to Horse Racing Ireland in 2015 to leverage investment in race courses.” Noonan added.
“We have worked closely with the authorities in Ireland on the Betting (Amendment) Bill — ensuring that there is a level playing pitch for all companies who operate in the Irish marketplace irrespective of whether they are based in Ireland or not.” Paddy Power Spokesperson said.