Ireland's Betting (Amendment) Act 2015, signed into law on 15 March, will regulate online bookmakers and remote betting intermediaries when commenced by ministerial order. It is expected that the licensing provisions of the Act will commence almost immediately with the enforcement and taxation provisions commencing later in the year.
The Act requires remote bookmakers and remote betting intermediaries to obtain a licence from the Irish Revenue Commissioners, an application for which must include certificates of personal fitness for a company's 'relevant officers,' and tax clearance certificates.
The Act extends the 1% turnover tax to licensed online bookmakers and applies a rate of 15% of commission charges on betting intermediaries. "In updating the legislation, non-Irish bookmakers may begin to consider Ireland as an attractive location," said Rob Corbet, Head of the Betting and Gaming Practice at Arthur Cox. "However until there is a broader licensing regime for other forms of online gambling, there is less likelihood of significant foreign direct investment in the industry."
This article first appeared in the World Online Gambling Law Report on 27 April 2015.
This article contains a general summary of developments and is not a complete or definitive statement of the law. Specific legal advice should be obtained where appropriate.
