Posts Tagged ‘Panama’

Costa Rica Seeking to Regulate, Tax Online Gambling Ops

by , Aug 31, 2009 | 3:34 am

Funny, here in the USA we’re screaming, “tax us! tax us, dammnit! for all in the name of freedom!” Elsewhere around the world they’re saying, yeah, we should tax … which has some companies considering new homes.

Costa Rica plans to officially introduce a bill this week that has been brewing for a few months to tax and regulate the many online gambling entities with operations there. The assertion is that a 2 percent tax would generate $100 million in revenue. There also was talk of a 1 percent tax on the end users, though it’s not clear if that provision is included in the legislation.

(Does anyone notice how much faster bills seem to move through Congress in Latin American countries?)

An estimated 300-some online gambling purveyors make at least one home in Costa Rica, though some might consider moves to Panama should the new tax pass. Several, such as Bodog, have already moved to Antigua, the UK, and elsewhere.