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In an exciting tidbit of news for online casinos operating out of Ireland, the finance ministry has delayed imposing any taxes on online gambling.
Exempt
In some news developments that are likely to satisfy the Irish online gambling community, the Irish government announced that there will be no taxes imposed on online casinos in the immediate future.
This news has been met with welcome arms from online operators across Ireland. There were concerns that taxes would be imposed on the online gambling industry especially since there was a nominal 1% increase in taxes on betting shops - from 1pc to 2pc.
The tax exemption includes all bets taken over the telephone too.
Delay
Finance Minister of Ireland, Brian Lenihan admitted that his ministry required time to examine the industry further in order to make informed decisions regarding taxation on the online industry.
It's a careful balancing act that is required as any hint of taxing the online gambling community has been met with the swift departure of gambling operations offshore. It is these tax-free havens that continue to host many online casino operators today.
