Chile: Senate Economy Commission approved online betting development project | Legislation - SoloAzar International
Legislation

Chile: Senate Economy Commission approved online betting development project

Thursday 04 de April 2024 / 12:00

⏱ 2 min read

(Santiago).- Today, the Senate Economic Commission unanimously approved the draft law that regulates the development of online betting platforms (Bulletin No. 14838-03), whose objectives are: to generate a competitive market, considering other forms of gambling currently legal (lottery draws, Polla/Lotería numbers and equestrian activity); safeguard the public faith; protect players' health and safety; make transparent the origins and destination of resources and contribute to tax collection estimated at $84,090 million annually.

Chile: Senate Economy Commission approved online betting development project

In this way, the project - which is in the second constitutional process - must now be put to a vote in the Chamber, so that all the senators express their opinion regarding the idea of legislating; and if approved, open a period to present new indications.

In the context of the general vote, the Undersecretary of the Treasury, Heidi Berner, and Senators Kenneth Pugh, Gastón Saavedra and Gustavo Sanhueza and Senator Loreto Carvajal agreed to continue working on indications at a table with their advisors on matters jointly identified regarding the strengthening of the rules relating to the current legal operators (Polla, Lotería); the recognition of marketing factors in authorized agencies or points of sale and adjustment to Polla's payout (return to players); symmetrical treatment; adjustments to the transitional regime, as well as new issues raised in the session and others that arise from future hearings.

Prior to the vote, the undersecretary referred to the objectives of the project, its content, the hearings received, the situation of legal operators, the tax regime and the transitional regime.

Regarding the tax regime, he refuted calculations spread by some actors during the processing of the initiative, according to which the gambling tax would be 37.8% product of the sum of 19% VAT plus 20% specific tax, 2% for bets sports and 1% for promoting responsible gaming: “The way in which this is being calculated has a conceptual error, because they incorporate into the equation taxes of general application, such as VAT, and then compare it with the specific tax in other legislations. 19% VAT is added when we know that this tax operates with a credit and debit rule.” She recalled that Gaming Casinos are taxed with VAT, income tax and specific tax.

He added that a methodological error is also incurred, because although some taxes are deducted from the base of others, the calculation they make makes a total sum of the tax debit in the tax burden, without recognizing the right of taxpayers to deduct from said tax debit the tax credits borne in carrying out its activities.

Categoría:Legislation

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País: Chile

Región: South America

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