They will have to pay for every slot, game and player
Venezuela passed a Taxes to Gambling Activities’ Law on Thursday, April 26th. The law, which came into force May 1st, obliges casinos, lotteries, slot machines, bingo rooms and horse-riding events to pay a monthly tax.
The Law, which was formulated on the Official Gazette #38.670, establishes that payment will be determined according to the number of machines and gaming tables available at each location. Income, profit and the number of players allowed simultaneously will also be taken into account.
The tax for bingo rooms is estimated on a 12-20% of the total income, while horse-riding events will be expected to pay 10-15%. Casinos will have to pay 120 to 320 taxing units (UT) –1,540 to 4,110 Euros- for each gaming table. Slot machines will pay 100 to 200 UT –about 1,285 to 2,570 Euros- for each slot machine or player –when several players are admitted simultaneously.
Owners of casinos and bingo rooms in Isla Margarita, one of the main tourism spots in the country, are planning to protest against the new Law. The Island is big on entertainment and gambling.
Venezuela passed a Taxes to Gambling Activities’ Law on Thursday, April 26th. The law, which came into force May 1st, obliges casinos, lotteries, slot machines, bingo rooms and horse-riding events to pay a monthly tax.