Finance Act, 2002
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Payment of duty with bet. |
71.—(1) Without prejudice to the provisions of section 67 , every bookmaker who makes, lays or otherwise enters into any bet, shall, at the time at which he or she accepts such bet from any person, require from such person an additional payment of an amount equal to the amount of the betting duty duly payable on the amount of that bet under section 67 unless the exemption from betting duty provided for in section 68 applies. | |
(2) Notwithstanding subsection (1) a bookmaker may by notice in writing to the Revenue Commissioners, elect to pay the amount of the betting duty on a class or classes of bets specified in the notice. | ||
(3) Betting duty which a bookmaker has elected to pay to the Revenue Commissioners pursuant to subsection (2) shall not be allowed as a deduction by any person in computing the amount of profits or losses of a bookmaking business for Income Tax or Corporation Tax purposes. |