A bill which proposes more thorough regulation and taxation for Costa Rica's casino industry received the unanimous approval of a legislative committee last week, and has been passed on to the national assembly for possible debate.
Under the legislation's key changes, which were first proposed in 2002 and supersede laws in place since the 1920s, the number of hours that casinos will be allowed to stay open will be restricted. At present, many casinos operate 24 hours per day, but it is believed that the new laws will effectively cut their opening hours to a quarter of what they are now.
Another of the legislation's key measures is the creation of a national gaming commission, which would issue licenses to businesses and employees, whilst acting as the general regulator for the casino industry. Furthermore, the new law will require that all casinos are located within the grounds of hotels.
However, the precise contents of the bill are for the moment uncertain, and the United States Internal Revenue Services has been working with Costa Rican tax officials to draft new tax regulations.
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