LatAm
Chile – Senate Economics Committee approves online bill
By James Marrison - 8 April 2024
The Senate Economics Committee unanimously approved in general the bill regulating the development of online betting platforms in Chile (Bulletin No. 14838-03).
The objectives of the bill are to generate a competitive market, taking into account other forms of currently legal gambling such as lottery draws, the lottery (Polla Chilena de Beneficencia) and horse racing in order to safeguard public trust. The bill is also aimed at protecting the health and safety of players. It will also help the government track the origins and destination of resources obtained through online platforms. Overall the newly regulated industry will contribute to an estimated annual tax revenue of $84.090 billion.
The bill, which is in its second constitutional procedure phase and has qualified as an urgent matter, must now be submitted to a vote in the Senate Chamber, so that senators have the opportunity to express their opinions on the matter. If approved, a new period will open for any new amendments that might be put forward.
In the context of the general vote, Deputy Finance Minister Heidi Berner, along with Senators Kenneth Pugh, Gastón Saavedra, Gustavo Sanhueza, and Senator Loreto Carvajal, agreed to continue working on amendments with their advisors on certain issues of the bill as well as new topics raised in the session and others that may arise from future hearings.
When it came to taxation, Deputy Finance Minister Heidi Berner refuted calculations disseminated by some stakeholders during the processing of the bill, and presented calculations on the tax burden and the reasons for the need to establish a specific tax, in addition to maintaining VAT and income tax.
Heidi Berner and the head of the Superintendent of Casino Games (SJC) Vivien Villagrán presented Chile’s online gambling bill to the Senate’s Economic Committee in January. The bill, which was approved in the first stage by the Chamber of Deputies in December, aims to create a competitive market. It also seeks to safeguard public trust, protect the health and safety of players, ensure transparency in the origin and destination of resources obtained from gambling and raise revenue for state coffers and sports.
