Finance Minister Brian Cowen announced that officials from the departments of Finance and Art, Sport and Tourism will work with staff from the Revenue Commissioners to review the current betting tax system, which is almost 80 years old. The Betting Tax Group will talk with industry\’s parties to verify if there are grounds for adopting a Gross Profits Tax system, defined as a tax on the difference between stakes received and winnings paid out, as recently introduced in the UK.
The Irish Government to examine betting tax changes
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