Gambling Tax Hike Likely For Irish

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According to reports in the Irish Sun, Agriculture Minister Simon Coveney is looking to raise taxes for land based and online gambling.

The move comes as Minister Coveney looks to fund the horse racing industry, saying that it makes no sense for Ireland to be paying money into the Horse and Greyhound fund when tax monies could self-finance the sector. Making an appearance at a school this week, Coveney commented on the issue, saying: "I would like to ensure that it is actually self-funded by a taxation on betting, and I'm not satisfied that the decisions of governments over the last 15 years have been the correct ones."

The current tax rate on the horse racing industry is 1%, and the government is seeking a doubling of that tax rate, with online gambling also being included in the tax hike.