FT.com / Companies / Travel & Leisure - Paddy Power to revise odds on offshore move: "why Paddy Power, unlike its UK rivals, has not moved offshore. After all, a base in Gibraltar from where both Ladbrokes and William Hill operate, would sharply reduce its tax bill despite Ireland's low corporate tax rates of 12.5 per cent. The Paddy Power board has looked at the issue, but until now it has decided to expand in its home base.
But the question of where it should be for tax purposes looks certain to resurface with the Irish government set to publish details in the next few weeks of its annual finance bill, which will contain provisions for changes in offshore betting tax. Currently a bet placed in a betting shop in Ireland incurs a 1 per cent levy – bets at the racetrack are taxed at 0.5 per cent. Online or phone-based betting is tax free."
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