Chile Online Gambling Bill Proposal Taxes Operators and Players
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Chilean authorities introduce a proposal for a bill that will regulate online gambling in the country and generate millions in taxes annually. There are more than 900 gambling websites currently available in Chile, some of them headquartered in jurisdictions like Malta and Curacao. The industry generates a market of $150 million annually, but there is no regulation.
The project will establish clear rules for an industry that is not regulated in Chile. Operators will have to pay a specific tax. The treasury will collect some US$55 million per year under the regimen.
Operators willing to offer online gambling will need to be located in the country and have sufficient funds at their disposal. They will have to reveal their shareholders and beneficiaries and implement procedures for reporting suspicious transactions. Licenses will be available under a 5-year renewable format or a 6-month non-renewable. Sports betting and online casino games will pay a 20% tax on gross income. Customers will also be charged with a 15% income tax.
