Ireland’s Gambling tax to double to 2%

Business News

The Irish Examiner reports that the gambling tax is set to double to 2% despite warnings from some in the betting industry last month that the increase could lead to job losses bookmakers struggle to stay in business.

The Independent Alliance called for the current gambling tax to be doubled and for a property tax waiver to be introduced for elderly people on fixed incomes as part of their Budget negotiations.

Shane Ross, John Halligan, Finian McGrath and Kevin Boxer Moran insisted that doubling the current gambling tax from 1% to 2% is set to bring €50 million. Now, the decision for the gambling tax rate increase seems like the only major win for the Alliance as a result of their talks with the Finance Minister.