Costa Rica May Introduce Bill to Tax Online
Gambling This Week
By: Kenneth Weitzner
According to the Tico Times and other
sources, EOG has learned that the Finance
Ministry is planning to introduce a bill
that would tax online gambling entrepreneurs
who reside in Costa Rica.
The bill is scheduled to reach the
Legislative Assembly this week and a vote
will be forthcoming in the middle of August.
For so many years, online sports betting has
been unregulated and untaxed in Costa Rica,
making this country the mecca of online
gambling worldwide.
If gambling is taxed in Costa Rica, upwards
of over 100 million dollars is expected to
be generated.
"The principal idea of the bill is to
regulate activity," Zuñiga said. "Gambling
is something that we are currently not
monitoring and, thus, not taking advantage
of. If we can regulate it, it could create
millions more dollars for the economy."
The largest and most established sports
betting operation in Costa Rica in terms of
bet sizes taken, BetCRIS, Chief Executive
Officer, Mickey Richardson, said, "They (The
Costa Rican Government) needs to understand
our business and the consequences before
passing such a law," "Hopefully nothing will
happen. I think they would ask for our input
and then we might be more supportive." It is
estimated that the online gambling industry
employs as many as 10,000 or more people
both directly and indirectly in the nation.
"The industry pays above average salaries
and contributes substantially to household
incomes," Richardson said.
Although some prominent online gambling
businesses have hinted at leaving and
heading to Panama if such a bill gets
passed, it remains to be seen.
It has been my experience that change occurs
slowly in Costa Rica, so although a bill may
be introduced next week, it may takes years
before we see it executed. |
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