\u00a35 Million Shortfall<\/strong><\/h2>\nFoley concluded that the impact of 400 closures would cost the country \u20ac35 million ($40 million) in taxes, while the remaining outlets would generate around \u20ac30 million ($34.2 million), leaving the exchequer \u20ac5 million ($5.7 million) out of pocket. Irish finance Minister Paschal Donahoe claimed in his budget announcement the levy would bring \u20ac50\u00a0 million ($57 million) in new revenue.<\/p>\n
\u201cEven if our estimates for shop closures are incorrect, and unfortunately I don’t think that’s the case, Professor Foley’s report shows this is far from being the cash cow that the government thinks it is,\u201d Byrne told the Racing Post<\/em>. “The two per cent is too crude a tax and too blunt. Maybe it’s time to look at an alternative tax in order to save the jobs of so many people as these are unnecessary job losses.<\/p>\n“The small bookmakers and independents will be wiped out if we don’t.”<\/p>\n","protected":false},"excerpt":{"rendered":"
The\u00a0decision to double the Irish betting tax\u00a0was taken “without a detailed analysis of the economic consequences,\u201d according to a professor of Economics, and could result in a loss for government coffers. In a report commissioned by The Irish Bookmakers Association (IBA), Dublin City University Emeritus Associate Professor Anthony Foley suggests that consequential shop closures, job […]<\/p>\n","protected":false},"author":36,"featured_media":91970,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,61,18943,1074],"tags":[],"acf":[],"yoast_head":"\n
Irish Government Shoots Itself in Foot Over Betting Tax<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n