Peru President Signs Betting and iGaming Bill into Law
Peru’s president Pedro Castillo has officially legalized sports betting and online gaming, after the country voted for the move last month.
The law received 91 votes in favor at Peru’s Congress last month. There were no opposing votes. The law was then signed and published in Peru’s official newspaper, El Peruano, last week. It will take effect 60 days after its publication in El Peruano.
The law names the Ministry of Foreign Trade and Tourism of Peru (Mincetur) as the country’s official gambling regulator. Mincetur will have the power to monitor all gambling activities in the country, which includes ordering the blocking of URL and IP addresses that infringe upon the law and ensuring all technological software and hardware used to provide online gambling is in working order.
The tax rate has been set at 12% of the total tax base, which will be collected monthly. The total tax base consists of net income minus maintenance costs. The tax will be monitored by Sunat, Peru’s customs and tax body. Maintenance tax will consist of 2% of an operator’s monthly income.
Breaking the law could result in a fine of up to SOL200 (€50.47). Other sanctions include the freezing of assets or a license disqualification, for up to 10 years or permanently.
