Earlier this week, the green light was given to approve the Regulatory Framework law on gambling in the Peruvian Congress. After its approval, the regulatory framework will allow the legalization of the exploitation of online sports betting games, and should come into force as soon as the regulation is well designed.
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According to information, the Government of Peru, from the Ministry of Foreign Trade and Tourism (Mincetur), will project tax collection through online gambling. According to the released note, a 12% Net Win tax will be imposed on online gambling.
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The drafting of the project was the responsibility of deputy Diana González Palomino, who presented the text to the Executive branch of Peru, resulting in approval with 91 votes in favor and no rejection by parliamentarians. Thus, the text was sent to the Foreign Trade and Tourism Commission last week.
While the bill was under discussion, Mincetur's top representative, Robert Sánchez, said that the Regulatory Framework will set a 12% tax rate on the net profits of online sports betting and gaming companies. In a recent interview, he said: “We consider that 12% is a tax that allows us to continue investing and betting on the development of the industry.”
In addition, the head of Mincetur further argued that the bill will aim to “dictating a responsible gambling policy to protect minors and people excluded from participating in games that are subject to regulation.” [...] “Responsible and healthy gambling, in a social market economy and mobilizing more than $1 billion, is an activity that needs to be taxed. No one can generate profits without being taxed. The profits, then, are directed to health, education, development of tourism and sports.”
The deputy and president of the Economy Commission, Silvia Monteza Facho, had the role of supporting the Regulatory Framework. In her speech, Facho said that the project “removes the implementation of the selective consumption tax” to users of gambling operators. In addition, Facho also took the opportunity to note that “the discrimination of non-domiciled [online gaming and sports betting operators] is also eliminated so that they are taxed in the same way as those established in Peru.”
During the debate on the Regulatory Framework on online gambling, it became clear that the revenue generated from taxes on the sector will be allocated to the Public Treasury to distribute among other sectors. For example, parliamentarians said that 40% will be allocated to the Public Treasury, where they will be distributed in: 20% to the Ministry of Health, and 20% to the Physicist.
Despite this, some approaches were discussed in case there are infringements in the highlighted sector. For example, if there are actually infractions, there will be penalties such as: reprimand, revocation of administrative authorization, banning for 10 years or definitive and fines.
In addition, it was established that the Regulatory Framework on gambling may grant licenses for physical operators to operate in the Peruvian region. However, the owners of the branch will only be able to operate under authorization from Mincetur, in the municipalities of Peru. It was also clarified that game locations cannot be close to temples or education centers.
Then Mincetur, together with the Ministry of Transport and Communications, claimed that there will be actions to block betting sites that do not comply with Peruvian regulations. Therefore, strict measures will be taken in relation to companies that do not comply with the Regulatory Framework for online gambling.
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