Peruvian President Pedro Castillo has officially legalized sports betting and online gaming after the country voted last month.
The law won 91 votes in favor in Peru’s parliament last month. There were no downvotes.
The law was then signed into law and was published last week in Peru’s official newspaper, El Peruano.
It will enter into force 60 days after publication in El Peruano.
The law makes Peru’s Ministry of Foreign Trade and Tourism (Mincetur) the country’s official gambling regulator. Mincetur is authorized to monitor all gambling activity in the country. This includes ordering the blocking of URLs and IP addresses that violate the law and ensuring that all technical software and hardware used to provide online gambling is in good working order. included.
The tax rate is set at 12% of the total tax base and is collected monthly. The total tax base consists of net income less maintenance costs. This tax is monitored by Sunat, the Peruvian customs and tax agency.
Maintenance tax consists of 2% of the operator’s monthly income.
Breaking the law can result in a fine of up to SOL200 (£42.79/€50.47/$51.24). Other sanctions include freezing assets or disqualifying licenses for up to 10 years or permanently.
