The Costa Rican ministry of finance has published revised plans to tax and regulate gambling, after casinos threatened to quit the country when consulted on the original tax proposals.
The legislation would involve the setting up of a Gambling Control Board for casinos and gaming which would be financed from a regulatory levy set at 0.5% per year on gross income. This new regulator would have the power to issue operating licenses for casinos for up to six years and set penalties for non-compliance.
There would also be a 15% tax on the gross monthly income of casinos and, for online gaming websites, a flat charge of USD50,000 per year.
Guillermo Zuniga, a member of the National Liberation Party (PLN) who chairs parliament's tax affairs panel has said the legislation is needed urgently to generate revenue for crime fighting projects, but the government does not want to scare off gambling operators.
The Gambling Control Board would be governed by a Supreme Council chaired by the Minister of Interior and Police.
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The legislation would involve the setting up of a Gambling Control Board for casinos and gaming which would be financed from a regulatory levy set at 0.5% per year on gross income. This new regulator would have the power to issue operating licenses for casinos for up to six years and set penalties for non-compliance.
There would also be a 15% tax on the gross monthly income of casinos and, for online gaming websites, a flat charge of USD50,000 per year.
Guillermo Zuniga, a member of the National Liberation Party (PLN) who chairs parliament's tax affairs panel has said the legislation is needed urgently to generate revenue for crime fighting projects, but the government does not want to scare off gambling operators.
The Gambling Control Board would be governed by a Supreme Council chaired by the Minister of Interior and Police.
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Disclaimer: Nothing I say should be taken as tax, legal or financial advice. Anything I say is for general informational purposes only. Always seek independent professional advice.
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Disclaimer: Nothing I say should be taken as tax, legal or financial advice. Anything I say is for general informational purposes only. Always seek independent professional advice.