Peru’s Foreign Trade Minister wants new tax law for casinos

Mercedes Araoz(LIP-wb) — Peru’s Minister of Foreign Trade and Tourism, Mercedes Araoz, expressed her concern if Peru’s Congress does not approve the law which regulates the taxation of casinos and game halls (tragamonedas) within this legislature.

Araoz explained the norm will allow to regulate revenues created on these premises and the formalization of the whole business sector.

“The proposal is approved by both commissions, nevertheless, it is still not on the agenda of Parliament… and if this doesn’t happen soon then it won’t be reviewed within a year”, she warned. “It must be discussed before this legislature ends”.

The minister emphasized that there are a number of companies that want to formalize their business and she clarified that she is not seeking to eliminate the casino and gambling business but to regulate it.

"Formalizing" one’s business means to have the proper licenses and permits needed in order to conduct a business. Businesses need to adhere to certain guidelines and regulations, otherwise they’ll lose their permits.

– related articles –

Game owners owe the state more than 260 million soles (LIP, Sept. 18, 2006)
Do Peruvian casinos receive special tax treatment? (LIP, Aug. 11, 2006)