Costa Rica may introduce online gambling tax bill this week
The bill is scheduled to reach the Legislative Assembly this week and a vote will be forthcoming in the middle of August.
For so many years, online sports betting has been unregulated and untaxed in Costa Rica, making this country the mecca of online gambling worldwide. If gambling is taxed in Costa Rica, upwards of over 100 million dollars is expected to be generated.
The largest and most established sports betting operation in Costa Rica in terms of bet sizes taken, BetCRIS, Chief Executive Officer, Mickey Richardson, said: "Costa Rican Government needs to understand our business and the consequences before passing such a law," "Hopefully nothing will happen. I think they would ask for our input and then we might be more supportive," Richardson added.
It is estimated that the online gambling industry employs as many as 10,000 or more people both directly and indirectly in the nation. "The industry pays above average salaries and contributes substantially to household incomes," Richardson said.
Although some prominent online gambling businesses have hinted at leaving and heading to Panama if such a bill gets passed, it remains to be seen.
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