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Online sports betting must pay taxes after legislation is approved in Congress

According to Mincetur, distance gaming and sports betting cost approximately $1 billion. | Font: Freepick

Congress approved by 91 votes the new betting and sports games which are done remotely.

The initiative, promoted by the Ministry of Foreign Trade and Tourism (Mincetur), indicates that this will apply a 12% tax on internet bets, the same percentage that applies to casino and slot machine activities.

According to the replacement text of bills 168, 1923, 2206 and 2070, 40% of what is collected with these taxes will go to the state treasury, 40% to tourism development, 20% to mental health promotion and 20% to the treasury.

According to Mincetur, remote sports and gaming betting costs approximately US$1,000 million, of which they estimate US$160 million can be collected annually.

The approved project also implies that the dissemination of information about these Bet sports and playrooms without the prior permission of the Ministry of Education.

Companies that commit an administrative offense can be punished with a reprimand, a fine of 1 to 200 UIT, cancellation of an administrative permit, disqualification for up to ten years, or permanent disqualification.

For his part, the owner minquetourRoberto Sanchez noted that these activities should be regulated because “no one should be engaged in activities without paying taxes.”

In addition, he pointed out that vulnerable segments of the population must be protected through access control for minors and the implementation of responsible gambling policies to prevent the development of addictive behavior.

Sanchez added that activities Bet online is used to commit computer crimes, fraud and other illegal activities.

Source: RPP

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