The Peruvian government approved Bill 2070/2021, aimed at launching a regulated iGambling market.
Key Aspects
The Law was adopted on July 15 and would control the usage of online gaming and sports betting, giving the government tax savings. The Ministry of Finance passed a political order in May, hastening the adoption of the internet gambling bill in the country.
The settlement led to parliamentarians' unanimity in support of the legislation's tax structure, which calls for a straight 10% revenue impost on internet betting and casino wagering.
The Ministry of Foreign Trade and Tourism will also be responsible for collecting an additional 2% income tax. This organisation has been given the authority to regulate the gaming industry in Peru.
Gains from the Act
According to Roberto Sanchez, a representative of the authority, the government will receive approximately $ 40 million from these taxes.
The regulator conducted a market analysis prior to the vote and found that unlicensed vendors had earned more than $ 1 billion from the state.
The Ministry’s duties include monitoring the market for responsible gambling advertising and acting as a distributor of chargeable betting income in the department of the region. This money will be invested in the country's economy for tourism and national sports groups, whose funding was most adversely impacted by COVID-19.
It will take 60 days for President Pedro Castillo's administration to study and sign the gambling bill into law.
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