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Ireland to Publish Online Betting Tax Legislation, Post Reports

July 15 (Bloomberg) -- Ireland aims to publish legislation this week to tax online betting with a 1 percent turnover tax on Internet stakes and a 15 percent levy on commission from betting exchanges, the Sunday Business Post reported.

The bill will be referred to the European Commission and the minister for agriculture and food, Simon Coveney, said he is confident the commission will sanction the tax in two to three months, the Dublin-based newspaper reported. The taxes would take effect at the start of 2013, the Post said.

To contact the reporter on this story: Colm Heatley in Belfast at cheatley@bloomberg.net

To contact the editor responsible for this story: Douglas Lytle at dlytle@bloomberg.net

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