Remote games and sports betting under the same modality will be taxed with the selective consumption tax.
Peru.- The Minister of Economy and Finance of Peru, José Arista, reported that the legislative decree has been approved by which remote games and sports betting under the same modality will be taxed with the selective consumption tax (ISC).
“Today, in some way, a tax created by Law No. 31557, which regulates the exploitation of remote games and sports betting, has been complemented,” said Arista.
“This law was published a few years ago, but unfortunately the regulation was complicated and that is why we commented in Congress that this would be one of the powers they delegate to us. They have delegated us the authority to legislate on this tax and today we have already approved in the Council of Ministers this norm that will allow charging the tax to platforms that use this mechanism of remote games and sports betting, establishing a Selective Consumption Tax rate to achieve collection,” he affirmed.
In October of last year, the Ministry of Foreign Trade and Tourism (Mincetur) published the regulations of Law No. 31557, which creates the tax on online sports betting games. Since then, from April, the approximately 50 companies that offer this type of service in Peru began to pay 12 percent of their net profit to the State.
It is estimated that by virtue of this norm the Peruvian State will be able to collect about S/ 162m (USD43.5m) annually, to be invested in the reactivation of tourism, infrastructure works for tourism, promoting sports, and addressing mental health programs.
See also: Peru received 145 applications for authorization to operate online games and betting
