Irish Government to tax online casinos

The Irish Horse and Greyhound racing fund  is under pressure after income from excise duty from off course betting dropped from €60 million to €31 million last year. The Government has contributed around €30 million in each of the past two years but according to Taoiseach Brian Cowen a more sustainable system of support is needed for the industry and he has something in mind. Mr Cowen believes that online casinos operating in Ireland should be brought within the tax net whether they are Irish casinos or those operated from overseas. In addition telephone betting should be brought in the net. Many of the online casinos offering services in Ireland are in fact based in overseas territories where the tax regime is more friendly such as Gibraltar or Malta but by introducing licensing legislation Mr Cowen hopes to be able to generate more tax income. Speaking at a dinner in Dublin the Taoiseach said “Such betting must be brought within the tax net, not just because it will increase revenue, but also because it will mean that those currently not contributing to securing the future of important indigenous industries will now make that contribution”.