While the Central American country Costa Rica is a dwelling place of more than 200 online casino companies than any other in the world which cater to the North American sports bettor, online casino and poker player. By the bid to step up the aptitude of online gambling industry, The Costa Rica Finance Ministry is hoping to the Legislative Assembly to come up with a 2% tax on income earned by the online casino industry.
For several months of assertions that have been on going in the legislature both for and against the need for taxation of the online casino industry in Costa Rica. The Costa Rica Finance Ministry place confidence that it can bring about $100,000,000. However, due to the recession, the Costa Rican government is determined to get it right this time.
Two years ago, the Partido Accion Ciudadana lead off a bill that would tax sportsbooks and other electronic betting operations based on the number of employees on their payroll. The yearlong tax starts at firms with 10 employees with a fee of 10,000,000 colons a year and get through the top of the scale with a tax of 28.4 million colons for companies with more than 61 employees.
The only dilemma is when the Costa Rica began charging a licensing fee some years back, only a handful of the most reputable online gambling firms paid and the others did not and ended up to leaved Costa Rica.
Jorge Hidalgo, The Vice President of the Costa Rican Association of Casinos, said that the industry is among the hardest hit by the recession. "Activity has fallen about 35 percent, and in addition to that we have fewer work hours and have had to let go about 500 employees," he said.
Generally, there are about 250 online gambling firms registered in Costa Rica, and according to the US State Department. In the news, the online gambling companies are not constrained by either taxes or particulat licensing fees, despite the fact that they are out of bounds from acquiring bets from Costa Rican resident.
Post a Comment