Peru Signs Online Gambling and Sports Betting into Law
The President of Peru, Pedro Castillo, has reportedly signed a new law to legalize and regulate sports betting and online gaming in the country.
The law was first approved by 91 votes at Peru’s Congress in July 2022. There were no opposing votes, which paved the way for its eventual enactment and publication in Peru’s official newspaper, El Peruano.
The law, which will take effect 60 days after its publication, will see the Ministry of Foreign Trade-Tourism (Mincetur) become the country’s official gambling authority.
The ministry will have the power to authorize, supervise, regulate, revoke and sanction online gambling and sporting bets. For instance, when Peru launches its iGaming and sports betting market, Mincetur can order the blocking and restriction of unlicensed URLs operating in the jurisdiction. It will also ensure all operators meet its requirements before gaining approval to launch in the regulated market.
The law sets a 12% tax rate on the monthly income of all online gambling operators in the country. They will also pay a 2% maintenance tax on their income every month. Sunat, the country’s customs and tax body has been charged with monitoring the tax.
The branch and congress have established a regulatory framework so that these operations are controlled in a comprehensive manner, paying taxes, as in countries: Colombia, Mexico, Argentina, as well as a large part of the United States and Europe. For the first time, Peru is creating a special tax on online gambling and sporting bets of 12%, which will lead to an annual collection by the state of s/156 million (about $40 million).
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