145Rate of tax

145 Rate of tax (1) The tax payable by an on-course bookmaker licensee is calculated at the rate of 0.33% on the total amount of wagers made by the licensee with persons during the preceding month minus the total amount of any wagers made by the licensee during that month with an agent as defined in section 3(1) of the Totalisator Licensing and Regulation Act 2000 for making a back wager or lay off wager. (2) The tax payable by a betting exchange licensee is calculated at the rate of 5% on the total amount of commission retained or received by the licensee during the preceding month.

Racing and Wagering Act 2024 67 (3) The tax payable by a sports bookmaker licensee is calculated at the rate of 5% on the total amount of wagers made by the licensee with persons during the preceding month minus the total amount paid by the licensee to those persons for the wagers during that month. (4) The amount of tax payable by a betting exchange licensee or sports bookmaker licensee for a financial year under this section must not exceed an amount equal to the monetary value of 2 000 000 revenue units.