Peru’s gambling industry is facing major reforms after President Dina Boluarte approved Law No. 31806 which introduces numerous amendments to the country’s gaming regulations. The new changes would effectively establish a regulatory framework for online gambling and sports betting, and fix tax loopholes.
Online Gaming Tax Rate Set at 11.7%
The fresh amendments will see Peru’s Ministry of Trade and Tourism, the MINCETUR, supervise the licensing process for both online gaming and sports betting, and the technology, gaming programs, and systems used in their operations.
Under the new rules, licensed operators will pay an 11.7% tax levy, with new license costs now increasing to 3% of net income or SOL2.97 million, whichever is higher. This latest rate is thrice the initial SOL990,000 license fee. Foreign operators will now be covered by these new tax laws.
New Rules to be Enforced in 2023
Licensed gambling firms will be allowed to enter into sponsorship deals with sports clubs, and their online platforms may also accommodate foreign customers and tourists. This is another major shake-up from the previous law where only domestic players were permitted to create online gaming accounts with Peruvian operators.
Other changes relate to approved payment systems and customer protections. The new rules are expected to take effect in the coming months.