Chile🇨🇱: the bill to regulate online gambling has been stalled in the Senate for six months

Chile🇨🇱: the bill to regulate online gambling has been stalled in the Senate for six months

In Chile, a law is considered approved only after being voted on in the Lower House (Chamber of Deputies) and in the Upper House (Senate). In this case, on April 2, the “Economy Committee” of the Senate approved the bill in general, but since then, neither this group nor the “Finance Committee,” to which it was referred, has returned to address the issue.

▶️ The debate on gambling regulation was driven by the Executive Branch, but President Boric appears to have lost interest in the matter. According to the newspaper El Mercurio, the delay is due to other initiatives, such as tax compliance and the prevention of economic crimes, which have taken higher priority.

▶️ There is concern that the approval of the law will continue to be postponed due to the upcoming discussion of the budget for 2025, which will also be addressed by the Finance Committee.

▶️ The online gambling bill primarily focuses on taxation:
• The proposed system is based on the current regime for physical casinos, establishing that this activity will be subject to VAT as a digital entertainment service.
• Similar to physical casinos, a special tax of 20% will be applied to mitigate externalities.
• To encourage responsible gambling, the special tax rate will be increased by an additional 1%, with deductions allowed for expenses related to the implementation of responsible gambling measures.

#news #Chile #gambling

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