The Irish government has finally approved the passing of the Gambling Act 2015, in a move that will enable the country to implement new online gambling tax rules.
As reported by iGaming Business, Irish Finance Minister Michael Noonan last month confirmed that the Act had been passed to the country’s president to be signed into law.
Noonan has been attempting to introduce the new tax since he assumed his government role more than three years ago.
Under the new regulations set out in the Act, online casino, gaming and bingo services in Ireland will face a 1% tax on gross gaming revenue.
Online sports betting operations will be charged at a 15% net revenue rate, the same rate set by the UK Gambling Commission for activities in the UK market.
All online gambling operators wishing to offer services in the country will be required to gain an approved licence, each of which will last for two years.
Those operators that to not acquire a licence and still offer services in Ireland could face a fine of up to €300,000 ($320,000).
Ireland expects the new laws to be in place by August 1.
“The Betting Amendment Bill is just a first step in providing for a well regulated betting and gambling regime,” Noonon said in a statement.
“This Bill will allow for the regulation of those providing betting services by remote means to persons within the jurisdiction for the first time.
“This is a major step in the right direction. The implementation of the regulatory regime for remote operators will also allow for the extension of betting duty to these companies.”
source : www.igamingbusiness.com
