👀Chile🇨🇱: Senate moves forward with bill to regulate online gambling and betting

👀Chile🇨🇱: Senate moves forward with bill to regulate online gambling and betting

The Chamber of Deputies approved the initiative in December 2023, and now the Senate’s Finance Committee has begun its review.

▶️Currently, only the Polla Chilena de Beneficencia (state lottery), the Lotería de Concepción, land-based casinos, and horse racing are authorized and regulated in Chile.

▶️The aim is for online gambling to compete fairly with these activities and provide additional revenue for the state. The proposal includes a 28% tax burden (with 19% VAT), although lawmakers acknowledge that the rate could change during debates. In Chile, VAT applies to all digital services, whether from domestic or foreign providers.

▶️Industry representatives warn that excessive taxation could drive companies away, encouraging players to move to unregulated platforms, which would limit the regulator’s ability to protect minors and problem gamblers.

▶️The Chilean Online Betting Association proposes a tax model without VAT and capped at 22%, arguing that this could increase tax revenue by 50% and boost the number of protected users by 75%.

▶️If the Senate approves the bill in a plenary session, it will move to the amendment and legislative adjustment phase.

#news #Chile #gambling

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