Legislators in Chile are moving forward on developing a framework to regulate online gambling in the country, SBC News reported November 29.
The Economic Commission of the Chamber of Deputies recommended fiscal measures that would apply to the new market, including a “1 percent responsible gambling tax” that would apply to land-based and online gaming.
The market will be supervised by the Superintendency of Gaming Casinos (SCJ), which will eventually expand into the Superintendency of Casinos, Betting, and Games of Chance.
The commission also approved a 20 percent tax on gross income of online platforms for all licensed operators, with operators required to pay 1,000 UTMs (Monthly Tax Units) annually.
The commission approved an additional 2 percent tax on income of all sportsbook operators. This will be allocated to the National Sports Institute.
The Chilean government is considering a 12-month cooling off period to give foreign online platforms time to become legal operators in the country. The commission cites the success that the Netherland had in using such a period to bring errant platforms into legality.
Articles the commission endorsed will be further revised by the full Chamber of Deputies before a final text is presented for a final vote.
