Online platforms warn that current project could discourage regulation, by Latamwin

Legislation

Online platforms warn that current project could discourage regulation, by Latamwin

Thursday 20 de July 2023 / 12:00

2 minutos de lectura

(Santiago de Chile).- The bill, which is pending in Congress and which seeks to regularize the online casino platform industry, has received new instructions from the Government, among which is adding the of VAT to the tax burden of the sector.

Online platforms warn that current project could discourage regulation, by Latamwin

This means that if the Gaming Tax plus VAT is considered, the tax burden will be 38.2%. In this regard, Carlos Baeza, representative to Congress of the Latamwin, Betson, Coolbet and Betano platforms, considers that -far from encouraging companies that operate in Chile from abroad to submit to national regulation- this measure discourages regulation, due to the high tax burden that these new indications imply.

“The changes made by the current government are so profound that one could speak of a new initiative, very different from the one installed by former President Piñera days after his term ended. Chile automatically becomes a very unattractive country for prestigious online operators to come and settle”, he specified.

He added that, with these new indications, Chile could become the country with the highest tax burden in the world in terms of online platforms, which could imply an increase in the illegal market.

"Before the indications of the current Government, the project provided for a Gaming Tax of 20%, a 1% tax for responsible gaming and 2% collection for sports federations, which adds up to 23%, which is already high, considering that the most successful tax burden is between 12% and 15%, a range that is attractive for the growth of the industry”, requested Baeza.

Categoría:Legislation

Tags: LATAMWIN,

País: Chile

Región: South America