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Crucial Budget looms as racing seeks major funding boost
Alan Sweetman on the arguments for and against a rise in betting duty
Irish racing continues to press the case for a sustainable funding mechanismCredit: Alan Crowhurst
Betting duty: the background
Until 1986 betting duty in Ireland, collected as tax 'paid-on' (added up front to the cost of the bet) with bookmakers, was levied at 20 per cent, and evasion was widespread.
In 1986 the rate was cut to ten per cent and further reductions followed, to five per cent in 1999, two per cent in 2002 and to the current one per cent in 2006. This one per cent is collected from betting companies, recovered in the gross margin, not tax 'paid-on'.
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Published on 11 September 2017inFeatures
Last updated 16:32, 11 September 2017
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