Connect with us

Daily News

Chile Proposes Responsible Gambling Tax Amid Online Gambling Bill Advancements

Published

on


In a groundbreaking move toward reshaping Chile’s gaming landscape, the nation’s online gambling bill is set to introduce a multifaceted tax framework, marking a significant step in the journey to legalize online gambling this year. Proposing a 20% tax on gross income from online gambling operations, along with a responsible gambling tax of 1% applicable to all gambling verticals, including land-based gaming, these tax measures are poised to underpin the country’s regulatory framework.

As Chile surges forward in its preparations for regulated online gambling, the Chamber of Deputies’ Economic Commission has published new articles that endorse these tax recommendations. This transformative legislation also necessitates online licensees to contribute 1,000 monthly tax units (UTM) annually, with UTM values fluctuating in accordance with the consumer price index.

Moreover, the commission’s forward-thinking approach extends to sports betting, where operators may face an additional 2% tax on their income. This supplemental levy aims to fuel the growth of Chilean sports, with contributions slated for sports federations, the Olympic Committee, and the Paralympic Committee, to be managed by the National Sports Institute, IND. In a pivotal move, the commission responded to a request from Polla Chilena, the state-owned pools betting operator, by eliminating restrictions on prize returns, further bolstering the gaming landscape.

However, this landmark development arrives in the wake of significant industry shifts, as Chile’s National Association of Professional Football (ANFP) terminated its title partnership deal with Betsson AB for the Campeonato Nacional, in response to a recent Supreme Court ruling. This ruling clarified the legality of gambling in Chile and underscored the need for sports organizations to sever ties with unlicensed betting operators.

Advertisement

As these progressive tax measures take center stage in Chile’s legislative landscape, the fate of Bill 035/2022 hangs in the balance, awaiting approval by the Chamber of Deputies. Amidst these transformative changes, Chile stands on the cusp of a new era in its gaming industry, poised to embrace responsible gambling practices and taxation to fuel its future.

Jerome, a valuable addition to the Gamingo.News team, brings with him extensive journalistic experience in the iGaming sector. His interest in the industry was sparked during his college years when he participated in local poker tournaments, eventually leading to his exposure to the burgeoning world of online poker and casino rooms. Jerome now utilizes his accumulated knowledge to fuel his passion for journalism, providing the team with the latest online scoops.

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Trending

Gamingo.News stands as a premier digital destination dedicated to delivering top-tier news and insights in the gaming and gambling industry. This specialized media outlet garners the attention of over 120,000 readers each month, providing them with engaging content, current news, and in-depth analyses.
The platform offers extensive coverage of various facets of the gaming world, including both online and brick-and-mortar gaming, wagering, esports, updates on regulations and compliance, as well as technological innovations. Regular content includes daily news stories, press releases, unique interviews, and comprehensive reports on events.
Moreover, Gamingo.News organizes webinars pertinent to the industry and offers detailed reports, establishing itself as a comprehensive information source for those interested in learning about gaming market operators, suppliers, regulators, and professional services. The portal's main objective is to keep its large audience informed about the latest news, trends, and developments in the gaming and gambling sectors. It focuses particularly on the European igaming market but also covers significant global news, proving to be an invaluable tool for gaming professionals, operators, and enthusiasts.

For inquiries, reach out at: sales@gamingo.news

For editorial or PR submissions, contact: media@gamingo.news

Copyright © 2024 Gamingo.News.