Peruvian lawmakers are looking to reign in their country’s rogue sports betting industry with a new gaming bill that covers a wide range of gaming-related topics. Under the terms of the proposed laws, Peruvian bookmakers would be exposed to new taxes that are more in line with what their colleagues across the planet are used to paying.
As it stands today, licensed sports betting operations are legal but they only pay sales taxes, much the way a clothing or electronics retailer might. Other than that, they seem to operate in a highly unregulated manner. The new bill would stop treating them like regular businesses and subject them to new taxes and regulations.
For example, under the terms of the new bill, those businesses that have been designated as sports books would start paying a 12 percent, monthly tax. The base of that tax would be drawn from the amount the operation takes in and how much it pays out
While conventional wisdom suggests that bookmakers wouldn’t be too keen on a new bunch of regulations, that may not be the case in Peru. One local bookmaker Luis Felipe Cornejo, who is also the general manager of Sportimba.com, told Calvinayre.com that he isn’t too worried about the new taxes saying, “I do not think the measure will impact on the players’ prizes. If it were to impact the companies, we would receive the same income and the expense would be higher. But it is a manageable tax.”
Currently, there are fewer than 30 sports books operating in Peru that would be subject to the new law.