New exchange tax

Is this from the Finance Bill? How can they tax a company operating in another jurisdiction, our 12.5  %rate corporation tax up for grabs now.

what does it mean to us customers?

But when will it commence, not for a long time i reckon.

Seeing as Betfair already are able to absorb the 15% Gross Profits Tax they have to pay on UK racing without passing it on to UK customers I think they will not pass it on.The Betfair rep quoted in today's Irish Field seemed reasonably welcoming on the tax.At least it is not turnover based which would not be compatible with the Betfair model.Quite what it has to do with Corporation Tax is beyond me.

Betfair welcomed the move and said it looks forward to contributing to the Irish economy in a fair and sustainable manner!

notice there withdrawing the plans to tax the scum landlords a lilltle harder[>o]

Pass the buck business

as bf make a contribution already i would think that this is intented to far exceed current revenue they collect.And as bf are not in the business of supporting guv. It will be passed on to customers.How they intent do police this is another matter .Will bf the police ?

Betfair do not make make a contribution already.They used to up to 2008 but their voluntary contribution in 2009 was refused by the HRI.I would be very confident it will not be passed on.

15% on customer commission rates ranging from 2% through to 5% will cost BF 0.3%(2%) through to 0.75%(5%). God knows whether Premium Charges come under the "commission" banner. It's probable most commission is derived at the lower rates however, so in effect the cost to BF is hardly noteworthy. I'd doubt whether BF will pass this charge to their clients in the short term. However they are a PLC and if their revenues/profits disappoint in the future they will no doubt revisit the sitiation. Furthermore it will be interesting to see whether this tax is higher or lower than the annual voluntary contribution BF made to HRI previously.

Betfair will be delighted with this. I guess the big question is whether revenue from non sports betting activity is also included, or whether is solely confined to sports. They wont pass on any chanrge to customers.

From what i heard from a good source it will apply any event that takes place in ireland,sporting or otherwise.

Does that include poker?

any event

Will be four months at the earliest and that will depend if the new Government finishes off what the present one started..

If you spend lots of money betting and winning and betting again then all the extra tax you pay will get Ireland back on feet. Some quality casinos pooping up around these shores that need to be filled too.