The Irish Parliament is scheduled to review amendments to the country’s budget that would change betting taxes to 10 percent gross profits tax on retail bookmakers and a 20 percent tax on online gambling sites.
The amendments are backed by the Irish Bookmakers Association.
Ireland has proposed doubling its gambling tax rate from 1 to 2 percent of turnover. The association feels a proposed increase in Irish gambling taxes could lead to 400 betting shops being closed with 1,500 job losses. The IBA plan would create €25 million in tax revenue for the country and still protect betting industry jobs, officials said.
A proposal to double the country’s gambling taxes led to several bookmakers—including Boylesports and Ladbrokes Ireland—to warn of possible layoffs and cutbacks in services. Ladbrokes warned it would close all of it’s on-course betting services if the increase goes through.
According to local reports, the association plan has drawn support of several parliament members.
