Costa Rica prepares online gambling tax
Costa Rica is set to implement new taxes on online gambling activities operated from the Central American nation. The 5% tax should support the fight against rising crime while also financing education in Costa Rica. Laura Chinchilla Miranda was elected new president in May 2010 thanks to her plans to combat crime and corruption. The new president plans to introduce taxes for online casino, poker or sportsbook
activities based in Costa Rica.
Online gambling tax
Offshore companies presently only need a data processing license to operate online gambling activities from Costa Rica. Gambling operations from the Central American country are excluded from taxes. Approximately 380 firms, mainly focused on the American market, are licensed in Costa Rica and turn over more than hundreds of millions of Euros annually.
Gross domestic product
Taxes currently cover 14.8% of the Costa Rica GDP, in comparison to 28.2% in the US and 39% in the UK. The Central American nation posted recently a deficit of 4% of its official economic output. The new president aims to generate an extra 1% of gross domestic product in tax. Previous attempts weren’t successful due to fears that operators would abandon the country instead of paying taxes.