Horse Racing Ireland demands higher betting taxes
Brian Kavanagh, spokeperson from Horse Racing Ireland, said in the submission that a 2.5% betting duty would still mean Ireland has “one of the lowest rates of betting tax in the world”, but it would be of greater benefit to the public purse.
“So, while the betting market has increased almost five times between 2001 and 2016, the yield to the exchequer from duty has actually fallen,” Kavanagh said.
In 2006, the government reduced the rate of betting duty from 2% to 1%, transferring liability from the punter to the bookmaker.
HRI claimed that the measure was “not successful”. It said a 2.5% betting duty tax would generate around €125 million for the public purse in its first full year of operation.
It asked for the extra 1.5% charge to be paid entirely by the punter, claiming that any increase on the bookies’ side would harm the betting sector.
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