CONTINUEThis site uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Find out more.
  1. Front Page
  2. News By Topic
  3. Costa Rica Announces Gambling Tax Plans

Costa Rica Announces Gambling Tax Plans

by Mike Godfrey, Tax-News.com, Washington

23 August 2010


The Costa Rican ministry of finance has published revised plans to tax and regulate gambling, after casinos threatened to quit the country when consulted on the original tax proposals.

The legislation would involve the setting up of a Gambling Control Board for casinos and gaming which would be financed from a regulatory levy set at 0.5% per year on gross income. This new regulator would have the power to issue operating licenses for casinos for up to six years and set penalties for non-compliance.

There would also be a 15% tax on the gross monthly income of casinos and, for online gaming websites, a flat charge of USD50,000 per year.

Guillermo Zuniga, a member of the National Liberation Party (PLN) who chairs parliament’s tax affairs panel has said the legislation is needed urgently to generate revenue for crime fighting projects, but the government does not want to scare off gambling operators.

The Gambling Control Board would be governed by a Supreme Council chaired by the Minister of Interior and Police.

A comprehensive report in our Intelligence Report series examining the new possibilities that offshore e-commerce open up for business, and analysing the offshore jurisdictions that have led the way in offering professional e-commerce regimes for international business, with a particular focus on e-gaming, is available in the Lowtax Library at http://www.lowtaxlibrary.com/asp/subs_reports.asp and a description of the report can be seen at http://www.lowtaxlibrary.com/asp/description_report6.asp
TAGS: compliance | tax | commerce | offshore | e-commerce | gambling | legislation | offshore e-gaming | tax rates | Costa Rica | penalties

To see today's news, click here.

 















Tax-News Reviews

Cyprus Review

A review and forecast of Cyprus's international business, legal and investment climate.

Visit Cyprus Review »

Malta Review

A review and forecast of Malta's international business, legal and investment climate.

Visit Malta Review »

Jersey Review

A review and forecast of Jersey's international business, legal and investment climate.

Visit Jersey Review »

Budget Review

A review of the latest budget news and government financial statements from around the world.

Visit Budget Review »



Stay Updated

Please enter your email address to join the Tax-News.com mailing list. View previous newsletters.

By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.


To manage your mailing list preferences, please click here »