Contact us
26.7.2012

Ireland Introduces Duty Tax on Online Gaming. Malta Gaming Lice

By
No items found.
EVENT DETAILS
Date:
Location:
Summary

Ireland has introduced a one percent betting duty on online bookmakers operating from Ireland. As a result of the Betting (Amendment) Bill 2012, online betting exchanges are expected to pay a 15% gross profit tax and 1% betting duty. This duty shall also apply to Internet and Offshore Bookmakers that had previously been exempt from paying duty. On the other hand, as governments adapt to the trends of the online gaming industry, the Malta Gaming Licence regime continues to lead through its prudent yet flexible regime.

cONTINUE rEADING

Ireland has introduced a one percent betting duty on online bookmakers operating from Ireland. As a result of the Betting (Amendment) Bill 2012, online betting exchanges are expected to pay a 15% gross profit tax and 1% betting duty. This duty shall also apply to Internet and Offshore Bookmakers that had previously been exempt from paying duty.

Gaming laws in Ireland are governed by the Gaming and Lotteries Act of 1956. To date, the forms of gambling permitted under the 1956 Act and closely controlled by legislation are lotteries as well as a very limited form of games of skill or chance for money.

This law, which at times is criticised for being out of pace with the trends of the industry has, over the past years, witnessed some reviews to adapt to the online gaming industry. This includes the recent addition of duty on the online betting industry, which is being viewed as an opportunity for Ireland to raise additional revenue from betting duties.

The gaming industry in Europe has witnessed significant changes. As governments adapt to the trends of the online gaming industry, the Malta Gaming Licence regime continues to lead through its prudent yet flexible regime. Malta’s placing as a top jurisdiction for the i-gaming industry is deemed indisputable and can be attributed to the favourable corporate and gaming tax regimes, the advantageous European onshore business environment and reputability of the licence. Malta’s success in i-gaming has led to the growth of other forms of gaming in Malta, including digital gaming, gaming software development, gaming licensing and gaming marking. This is facilitated by numerous fiscal and tax incentives that the Maltese Government offers newly and established companies that set-up shop in Malta.

key contacts
No items found.
continue learning
Contact us

Speak to a
recognised expert