Ireland is awaiting a review of its bookmaker turnover tax increase from one to two percent, which came into action on 1 January.
Proposed as part of Budget 2019 by Ireland’s finance minister Paschal Donohoe, the tax hike has been a cause of huge concern for industry stakeholders, with independent bookmakers in particular feeling squeezed by the 100 percent rise.
Following insistent calls from the Irish Bookmakers Association, Donohoe assured that the impact on the industry would be reassessed at the end of 2019 Q1.
In Ireland, independent bookmakers form a significant segment of the market, making the doubling of the turnover tax particularly painful – with reports of as many as 10 shops closing already. Some operators in the industry have suggested a compromise which would see the increase move from turnover to gross profit. However, for this to save any more shops from closing, Ireland’s politicians would have to move rather swiftly on this issue; something they’ve struggled to do when it comes to gambling legislation.