2020 would be a welcome year for bookmakers in Ireland. The Irish Government has announced its plans to relax the taxes for bookmakers in the Republic of Ireland. The licensed bookmakers in the country will get a relief of up to €50,000 from the 2% turnover tax which is currently levied on betting activities.
The government has revealed plans to incorporate a number of changes to the gambling tax structure in the budget. The changes to betting duty and betting intermediary duty are also to take place from next year.
With the new tax relief, the betting operators will save the tax on the first €50,000 wagered which they would otherwise pay. The €50,000 limit holds good for a year.
Gambling is extremely popular in Ireland. The number of people suffering from compulsive gambling issues is at an all-time high in Ireland. As such a record number of people in Ireland are seeking treatment for problem gambling.
According to the official data, the number of people treated for problem gambling in the health services sector crossed 250 in the past year.
In Ireland, gambling is treated as a problem “substance”, just like alcohol and illegal drugs, on the reporting system maintained by the Health Service Executive.
The figures show that there were about 1,750 cases where gambling was recorded as the main problem substance since the National Drug Treatment Reporting System started collecting gambling-related data in 2010.
Also, in 2018 there were a total of 257 cases provisionally recorded which was highest so far.