Online Casino Style: News - Irish Tax Alarms

10/07/2010		Online Casino Style - News: Irish Tax Alarms - 2
Home History Games News Dictionary		continued from Irish Tax Alarms - 1 Partly because of Ireland’s close proximity to other European markets that are significantly more friendly with their regulated online gambling industries, the loss of business would be more than just marginally devastating to smaller betting shops. Right now, the industry employs upwards of 6.500 people, a third of whom could be unemployed by the end of the year. Already, turnover submitted by most of the shops had dropped dramatically in the last 18 months, with business lost to offshore internet casino groups, some reporting as much as 40 percent losses before this tax was even considered. To complete their opposition to the tax, the IBA has instead put up a counter proposal that would create an additional 3,000 jobs in addition to generating the new revenue looked for by the government. There is no reason for the 2 percent tax, says representative Ms Byrne, as “Paradoxically, therefore, rather than strengthening the contribution of the betting sector to the Irish Exchequer this new taxation would have the opposite effect.” The best well known online gambling brand in Ireland, Paddy Power, has adamantly opposed the levy proposal, calling it “insane.” And they’re not alone in believing that the bill is a foolish suggestion that will do far more harm than good as the Irish Examiner reported that the bill was allegedly developed to help cover costs associated with a shortfall between the government funding for horse and dog racing, and the actual costs of running the operations. That €30 million deficit is exactly what this new tax will cover.

10/07/2010

Online Casino Style - News:
Irish Tax Alarms - 2

continued from Irish Tax Alarms - 1

Partly because of Ireland’s close proximity to other European markets that are significantly more friendly with their regulated online gambling industries, the loss of business would be more than just marginally devastating to smaller betting shops. Right now, the industry employs upwards of 6.500 people, a third of whom could be unemployed by the end of the year. Already, turnover submitted by most of the shops had dropped dramatically in the last 18 months, with business lost to offshore internet casino groups, some reporting as much as 40 percent losses before this tax was even considered.

To complete their opposition to the tax, the IBA has instead put up a counter proposal that would create an additional 3,000 jobs in addition to generating the new revenue looked for by the government. There is no reason for the 2 percent tax, says representative Ms Byrne, as “Paradoxically, therefore, rather than strengthening the contribution of the betting sector to the Irish Exchequer this new taxation would have the opposite effect.”

The best well known online gambling brand in Ireland, Paddy Power, has adamantly opposed the levy proposal, calling it “insane.” And they’re not alone in believing that the bill is a foolish suggestion that will do far more harm than good as the Irish Examiner reported that the bill was allegedly developed to help cover costs associated with a shortfall between the government funding for horse and dog racing, and the actual costs of running the operations. That €30 million deficit is exactly what this new tax will cover.