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A new poker bill to come into force by the end of this year - Republic of Ireland
Irish authorities have shown a real ambition to reshape online poker /gambling legislation these days. Both gambling providers and players are all concerned with the government initiative. Following the footpath of England, Sweden and Norway, Ireland is now poised to review its gambling legislation. Indeed, Irish Parliament wants to impose 1 % tax on online poker cash game earnings. According to Ireland Minister of Finance, Michael Noonan, the decision has been made to back up equine industry. Despite the fact that the bill was handed to the European Commission early in summer for an in-dept examination, the new taxation is expected to be ruled by the end of this year or in early 2015. The online gambling-related taxation will help the Republic of Ireland build a better future with a new economic policy while generating 25 million to the countrys coffers, Michael Noonan said.
Years earlier, the taxation bill had been of no interest for the government when the Irelands Casino Committee released a report relating an initiative to regulate online gambling in 2008. In 2010, the situation took a different turn when Irish Prime Minister Brian Cowen supported the said bill. He argued that it would not only increase the countrys tax revenue but also would it incite underground gambling providers to legally operate in the market for a safe and brighter future of an Ireland-based online gambling industry. Accordingly, operators will have to obtain a country-issued license though Irish gambling players are allowed to wager on international betting sites. Note that, alongside this 1% taxation imposed on cash game earnings, local gambling operators are subject to 15 % of tax on Gross Gaming Revenue.
Source: Oliver JOHNSON
Tuesday, 21 October 2014
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