Licensing Fees For Costa Rican Sportsbooks
Published: Friday, March 18, 2005 Online-Casinos.com
NEW LICENSING FEES FOR COSTA RICAN SPORTSBOOKS?
Sliding scale dependent on number of employees
Sports 911 reported this week that current lobbyist information suggests 'licensing' fees for sportsbooks (and presumably online casinos in the territory) will be determined by the number of employees.
For some time politicians and legislators in the country have been working on proposals to upgrade the current Costa Rican business licensing to full online gambling status.
The lobbyist has given unconfirmed taxation or fee figures as follows:
From 1 to 20 employees - 13 million colones or approx. $27 800
From 21 to 60 employees - 21 million colones or approx. $45 000
Over 61 employees - 32 million colones or approx. $68 500
This will be an annual tax, updated to keep pace with the local CPI. There are apparently punitive measures included whereby 'unlicensed' operations can be closed down, and the management or ownership held personally responsible for all penalties and evaded taxes.
Lobbyists believe that the proposal, which is in the hands of congressional legislators at present, could be approved within the next few weeks. What is not yet clear is when the law will come into effect, and what detailed regulations will be framed to guard against player abuse, money laundering and other critical areas of international concern. The question of inspection, monitoring and enforcement, and who does it will also be of keen interest to the industry.
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