Finance Act, 2002

Regulations for payment of duty on bets.

77.—(1) The Revenue Commissioners may make regulations for securing the payment of betting duty and generally for carrying the provisions of this Act in relation to such duty into effect and in particular for—

(a) entering into arrangements with and taking security from bookmakers,

(b) providing for the submission of returns and payment of betting duty,

(c) requiring the maintenance and production by bookmakers of their books, accounts, vouchers, and other records relating to the bookmaking business carried out by them, and

(d) granting to bookmakers remissions or refunds (as the case may require) of betting duty in cases in which the whole or any part of the contingent liability of a bookmaker in respect of a bet made, laid, or otherwise entered into by him or her is shown to the satisfaction of the Revenue Commissioners to have been transferred by such bookmaker to another bookmaker (who is liable to pay the duty on the transferred bets) by means of a fresh bet made, laid, or otherwise entered into by the first-mentioned bookmaker with the second-mentioned bookmaker.

(2) Every person who contravenes or fails to comply with a regulation made under this section shall be guilty of an offence and shall be liable on summary conviction to an excise penalty of €1,900.