Bookmaker calls for on-course tax increase

BOOKMAKER PADDY Power is calling on the Government to increase tax on on-course, internet and tote betting, and on stallion fees, to plug the gap in funding for horseracing.

The company submitted a series of tax proposals to the Department of Finance it believes would raise €42 million. The listed bookmaker and its industry rivals have been involved in a protracted debate with the Government and State agency Horse Racing Ireland in a bid to address the €31 million gap between revenue raised from betting tax and Government funding for horse and dog racing.

Paddy Power said yesterday the key elements of its plan involve introducing a licence fee for online and telephone betting operators, which would raise €6 million.

The company also suggests extending the 1 per cent turnover tax charged on bets in bookmakers’ shops to all industry players, which would raise €9.4 million.

This would include a 1 per cent tax on internet and telephone bets placed by Irish customers not covered by the licence fee and increasing the tax on on-course betting to 1 per cent.

The company estimates the State could raise a further €500,000 from a 1 per cent tax on tote betting at racecourses.

It also proposes a 1 per cent tax on stallion fees, which would raise €1.9 million; thoroughbred sales, which would raise €2.2 million; and racehorse training fees, which would raise €2.7 million.

Its proposal also includes modernising racing schedules and bookmakers’ opening hours, and regulating and licensing casinos.