Bolivian Government insists on the new casino tax

“If you think that a decrease in winnings in order to share it with all the Bolivian citizens through a tax that they did not pay before is a cost and not an excess. Well, they will have to assume their position, we believe that games did not pay what they should have paid and we are charging something that is fair. That’s why the national government has taken the initiative of controlling it and they were not accustomed to that”.

The plenary of the Chamber of Senators sanctioned last Wednesday the Law 971, with the aim to supervise, control and increase in more than 60% the taxes to that sector, through the validity of the Authority of Fiscalization and Social Control of Gaming.

Senators assured that the norm was socialized so the approval of that initiative legalizes the validity of the gambling venues and so the number of players decreases, as well as to avoid illegal acts, such as money laundering, to be commited.

The norm, that comprises four titles, 49 articles, a temporary disposition, three final dispositions and two abrogatories and derogatories, has the aim to establish the basic lottery and games of chance legislation, to establish the supervision and social control of gaming, and create national taxes for that activity.