Costa Rica Prepares to Tax Online Casino Industry
The finance ministry of Costa Rica has prepared a plan to regulate and tax online casinos based in the country, and will present the measure for consideration to the national legislature. Estimates from the department are that the bill, if enacted, could raise as much as $100 million in revenue for the country.Arguments for and against taxation of the Internet gambling industry have been bandied about over the last several months in Costa Rica. A major reason the online casinos chose the country as a location was the favorable tax situation, and some experts are afraid the industry may abandon the country when taxes are implemented, costing the nation a steady source of jobs.
Still, Minister Jenny Phillips pointed out the online casino industry is presently entirely unregulated, and some amount of taxation could be expected at any new location. The report by A.M. Costa Rica said the minister had planned the gambling bill as part of a package to reform tax law.
The minister asserted the country is, along with Antigua, the biggest base for online gambling sites in the world.
She did not discuss the specifics as to exactly what gaming would be included in the bill, nor did she disclose what rules and regulations may be applied to the Internet gaming industry.
