Bookmakers Ireland included in the budget for 2020, receive tax benefits.

 Bookmakers declared part of the Irish budget for 2020, will receive an annual return of 50 000 euros for a 2% tax levied on them. Thus, the authorities hope to support the independent sector of the country’s betting services.

 Finance Minister Pascal Donoghue confirmed that we are talking about the first 50,000 euros of income obtained by operators in the activity rates. Regulation of this issue will be carried out in accordance with EU state aid rules.

 After increasing in the past year tax rate from 1 to 2% of the independent sector in Ireland has been forced to face the competition with such giants sector as Paddy Power, Ladbrokes and Boylesports.

 On the one hand, it is expected that such a decision by the Government will result in additional revenues to the state budget of 95 million Euros in each calendar period. However, the tax innovation has led to the fact that a number of independent bookmakers ceased operations.

 The proceeds will be allocated to support horse racing and greyhound race s. Thus, in the budget for 2020 states that the Fund on the jumps and dog track (IHGRF) will receive funding of 80 million euros, of which 67.2 million transfer in HRI – Horse Racing Ireland.

 At the same time the head of the priority HRI Brian Kavanagh sees directly the financial needs of the country, as well as the sphere of horse breeding. Subsidizing the sector, he said, may be increased due to the projected increase in revenues from this year doubled rates. Kavanagh said that HRI will examine a number of funds that support Brexit, created by the state to test their skills.

 Recall that in Spain protesting against the gambling industry.

 See also: List of countries with which the player will not need to win tax

 See also: Keith Hayes shared his thoughts on pricing, personalization of sports bookmakers and types of BC clients.