Regulation of online platforms in Chile: Why it is important for a new industry to emerge on legitimate cause
Monday 02 de October 2023 / 12:00
⏱ 2 min read
(Santiago de Chile).- The Economy Commission of the Chamber of Deputies has been working on the bill that will regulate the activity of online gambling platforms in Chile, to which Latamwin, a Latin American company of services and technological solutions for online gaming companies and platforms, has set itself the objective of collaborating and supporting all actions that lead to regulation within the country.
The services offered by international platforms within Chile work in a similar way to Spotify, Netflix and so many other technological developments, which is why it requires regulation to function fairly.
In this sense, Carlos Baeza, a lawyer advising online gambling platforms Latamwin, Betano, Betsson and Coolbet, explains how a technology industry can emerge in Chile under legitimate causes. He also emphasises that the Chilean state has expressly stated the need to regulate the online gambling industry in order to increase tax revenue and protect users.
Support for the regulation process
"All international companies that are not domiciled or resident in Chile, such as Netflix, Spotify, Sony, Apple, are obliged to pay only one tax: digital VAT. That tax is the one that the platforms paid until December 2022 and that from January 2023 could no longer be paid because the Internal Revenue Service blocked that possibility," said Baeza with respect to tax collection.
At the same time, he indicated that "the regulation includes the obligation to establish themselves in Chile and to pay all the taxes that are determined, which of course we fully agree with. This is something that we have consistently supported throughout the processing of the regulation project".
This is how regulation will make the online platforms market an attractive alternative for the development of new companies and professionals in the field of technology and digital services. This provides new opportunities and opens up the possibility of growth for startups focused on this area, for the consolidation of a sustainable and competitive industry.
Categoría:Legislation
Tags: Sports Betting, Sportsbook , betting software, LATAMWIN,
País: Chile
Región: South America
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