Earlier this week it was reported that the Federal Revenue Service of Chile is developing a project where bookmakers register and start paying taxes under the new tax regime. The attitude of the Federal Revenue Service of Chile starts to include even cryptocurrency operators, as well as Exchange of the market, among others.
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According to information from the Federal Revenue Service of Chile, several major bookmakers in the market are under analysis, as are cryptocurrency operators, so that they start paying tax taxes to the Chilean government. According to the director of the Internal Revenue Service of Chile, Hernán Frigolett, there is a service under development to identify operators that are not registered in Chile, and that are not paying taxes to the government.
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“Our service has developed a coordinated work with banks and other payment card issuers, in order to obtain information to determine if the registered platforms are declaring and paying the tax; or, well, identify the platforms that do not declare or pay digital VAT, having to do so.”
Meanwhile, there is information that the Federal Revenue Service of Chile is trying to contact companies operating unregistered in Chile, but is also working together with banking and non-banking entities. According to information, the Federal Revenue Service of Chile is in contact with the entities that issue payment cards “to coordinate the operational aspects of this measure”. Therefore, the measure of the Chilean authorities will start to be applied from the 1st of August.
In addition, the director of the Federal Revenue Service of Chile said that operators not registered in Chile are not declaring or paying VAT on their services. That said, Frigolett noted that these companies “are in a situation of non-compliance” with the law.
Therefore, the director of the Federal Revenue Service of Chile stressed that his system will continue to monitor any foreign company or platform, whether online or terrestrial, that is not properly registered in Chile. In his speech, Frigolett said that “The Federal Revenue Service of Chile will continue to permanently monitor that any foreign company or platform, without domicile or residence in Chile, that provides digital services taxed with VAT in Chile, complies with the payment of this tax.”
It is also worth remembering that, during the month of March, the Chilean undersecretary of finance, Aleandro Weber, had commented that the regulation of the online gaming market would generate an annual amount of US$ 55 million in taxes. However, it would have to have an adequate project for the protection of the players, and apply strict rules for the operators.
According to information discussed in March, gaming operators must pay a 20% tax on their gross revenue. However, in relation to sports betting, companies must allocate around 2% of their gross revenue to the National Esports Federation, as well as 1% to Responsible Gaming projects. Despite this, operators' users must also enter the tax bill, where the government will tax 15% of the income obtained.
In observation, Weber had stated that betting operators should pay specific taxes. And, through this measure, the annual taxes paid by the betting operators would result in millions of dollars for Chile.
However, there are still many online betting operators accessed in Chile. According to the Superintendence of Casinos, Chile's regulatory body, there are around 900 online gambling sites accessed in Chile. Due to this high number of operators accessed, the Internal Revenue Service of Chile is seeking to tax these bookmakers so that they start paying taxes to Chile.
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