2% Tax on Online Gambling
In the next few weeks the finance ministry of Costa Rica will be submitting a bill which will propose a 2% tax on the gambling. It is estimated that if imposed, the income generated by the tax on the gambling industry, which would include online gambling, gaming and betting, could be as much as $85 million for the government.
The amount is so great is because there are around 46 casinos and over 300 gambling related business which include call centres. The tax would be a good boost in the economy for the country during hard times, but the officials within the gambling industry have been trying to express their concerns about the loss in revenues over the past few years. There has already been an substantial drop this year.
The vice president of the Costa Rican Association of Casinos, Jorge Hidalgo, has been saying that we have all been hit hard by the global financial crisis but the online gambling industry has been one of the hardest hit.
It is expected that the bill will be put to the Legislative Assembly on August 3rd.