Costa Rica seeking online gambling tax
The government of Costa Rica is preparing plans to tax online casino operators who are based in the country, up to now there was no regulation of the internet gambling industry in place. The new law will tax and regulate online casinos, which will provide the Costa Rican government with over 100 million dollar in revenue per year.
The plan comes from the Ministry of Finance, who wil present the plan for approval to the national legislature. In recent months online gambling has become the hot toppic for discussion in the country, lawmakers and casino operators have arguments both for and against the taxation of the online gambling industry. One of the main reasons for online casinos to come to Costa Rica is the favorable taxes, some fear that the online casino gambling industry will leave the country, causing many to loose their job like what happened in the UK. Jenny Phillips the Finance minister in Costa Rica pointed out that the internet gambling industry is completely unregulated, and any new location should expect some form of taxation. The gambling bill is part of a package to reform tax laws in the country. Phillips assured that Costa Rica together with Antigua is the largewst base for online gambling sites. Details about what forms of gambling will be taxed are not disclosed, nor what rules will apply.
Recent Entries
- Barton bill details to be detailed today
- Sense of deja vu as McDermott launches HR2230
- Gold flows at WSOP
- DC: Council member was being paid by legal firm, claims editorial
- Phil Ivey Shocks the Poker World
- Italian market: Overall 2010 turnover up 5.5% on previous year
- So-so first quarter of 2011 for RedBet
- Interested in online poker sites’ tactics?
- 888: Records broken in both player numbers and revenues
- Zynga makes another strategic acquisition
