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Duty on bets.
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24.—(1) There shall be charged, levied, and paid on and by every bookmaker who makes, lays, or otherwise enters into any bets on or after the 1st day of November, 1926, an excise duty (in this Act referred to as the duty on bets) at the rates hereinafter mentioned on the amount of every bet entered into by him on or after the said 1st day of November, 1926, that is to say, when either the event which is the subject of the bet is a horse race and the bet is entered into during the meeting of which such race is an item and at the place at which such meeting is held or the event which is the subject of the bet is a greyhound coursing contest or one or more courses in such a contest and the bet is entered into during such contest or during the meeting of which such contest is an item and at the place at which such contest is held, two and one-half per cent, of the amount of the bet, and, in every other case, five per cent. of the amount of the bet.
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(3) Whenever it is proved to the satisfaction of the Revenue Commissioners that a bet in respect of which the duty imposed by this section is chargeable has become void for any reason other than the mutual consent of the parties thereto or that the amount of a bet in respect of which the said duty is chargeable has not been and is not likely to be collected by the bookmaker, the Revenue Commissioners may, subject to such conditions as they may think fit to impose, either (as the case may require) repay the duty paid or remit the duty chargeable in respect of such bet.
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