How many books will leave CR if this is implemented?

[dean_jones]

The Tico Times carried it today.

<table width="473" border="0" cellpadding="5" cellspacing="0"><tbody><tr><td class="titles" height="29">Bill would tax gambling
and sports betting in Costa Rica</td> </tr> <tr> <td class="credits" align="justify" height="24"> By Adam Williams
Tico Times Staff | awilliams@ticotimes.net </td> </tr> <tr> <td colspan="2" class="articles" height="15">Within the next two weeks, the Costa Rica Finance Ministry will send a bill to the Legislative Assembly proposing a 2 percent tax on income earned by the gambling, gaming and betting industry. The ministry estimates that the tax would generate up to $85 million for the government coffers if passed.
Total income in the gaming industry is calculated by money earned by casinos, as well as by the online betting industry, which includes gambling games like poker as well as betting on sports. There are 46 operating casinos in Costa Rica as well as 300 gambling-related businesses, including call centers that receive calls for gambling and betting purposes.
If the bill is passed, a regulatory body would ensure that gambling locations and affiliates are licensed and honor the new tax. The regulatory body would be comprised of Finance Ministry and other financial, security and tourism officials.
Though the anticipated financial gains of the tax would pump a large sum of money into the Costa Rican state, companies and employees within the gaming industry are concerned about potential ramifications. Gambling has seen significant drops in revenue in 2009 and the tax would further reduce overall earnings.
Jorge Hidalgo, vice president of the Costa Rican Association of Casinos, said the industry is among the hardest hit by the recession. “Activity has fallen about 35 percent, and in addition to that we have fewer work hours and have had to let go about 500 employees,” he said.
The bill is anticipated to reach the Legislative Assembly on Aug. 3.
</td></tr></tbody></table>

 

[NES]

If they really do go through with it the big pph shops will have to leave costa rica, I mean does IDS even make 2% off their players losses? I doubt it.

 

[wolfie_cr]

If they really do go through with it the big pph shops will have to leave costa rica, I mean does IDS even make 2% off their players losses? I doubt it.

Interesting observation, now is the time for those companies to speak up to the idiots that are pushing these taxes and explain how it doesnt work, how its more complicated to regulate and make sure that noone is hiding deposits etc.........


Much simpler a flat fee

 

[NES]

Oh well, Ive been wanting to check out panama for awhile, and I know BetAllSports is gonna line me up with a nice job when I get there. Right Buddy?

 

[Betallsports]

It's that time of the year again my guess...@)..lets start a rumour..w're all moving to panama..nicalandia..f'k lets trow in honduras this time!~~~!.....

Moved to Panama 3 years ago, so I guess it's not a Rumor :drink:

 

[Betallsports]

Oh well, Ive been wanting to check out panama for awhile, and I know BetAllSports is gonna line me up with a nice job when I get there. Right Buddy?

Who are You.Again ?? @)

 

[Tortillera]

Places like CRIS who have a hold % of around 3% now ya think they wanna give up 2% in TAX........

I think fucking NOT

 

[Dodgingpotholes]

Places like CRIS who have a hold % of around 3% now ya think they wanna give up 2% in TAX........

I think fucking NOT

LOL...dude I think ur 2% of there 3% is what they are proposing as the tax. The 3% is their gross income right?

 

[Tortillera]

LOL...dude I think ur 2% of there 3% is what they are proposing as the tax. The 3% is their gross income right?

point was a shop like CRIS dealing in volume their hold % less than most, and Cigar aint gonna wanna have to lose another 2% on the earn, least the way I see it

But hey it is Costa Rica so chances are this change wouldnt really come about for years, cause the Ticos only do one thing fast, run when its free food...LMAO

 

[Nick$$$]

point was a shop like CRIS dealing in volume their hold % less than most, and Cigar aint gonna wanna have to lose another 2% on the earn, least the way I see it

But hey it is Costa Rica so chances are this change wouldnt really come about for years, cause the Ticos only do one thing fast, run when its free food...LMAO

jajajajajaa and stiff foreigners

 

[Tortillera]

Problem arises for the Credit shops, cause by law those are Illegal in Costa Rica........

But then again the Ticos are only in a hurry to the buffet line so ya got plenty of time

 

[degengambler]

Bulls might get hurt
bears might get hurt
pigs always get killed

cash business
no one claims actual income
all will / should claim a small profit
and pay a small tax

work backwards--decide what you want to pay
create income and expenses to match
no way to verify income in this business

 

[AdamSelene]

work backwards--decide what you want to pay
create income and expenses to match
no way to verify income in this business

Some jurisdictions require the software to have tax accounting features, only allow said software, and audit such.

Not that I have experience with that in particular.

I doubt Costa Rica is talented enough to find all but the biggest operations. How many people paid the emergency per head tax a few years ago?

 

[SVT_Cobra]

Yep. You can't use Costa Rican banks to accept deposits, so how can they put a 2% tax on income?

In fact, there aren't any sportsbooks in Costa Rica for this reason. There are only call centers and data processing companies. Cost centers are based here, profit centers are elsewhere.

So this is pretty dumb.

On the other hand if they promoted the national banks to accept Sportsbooks and handle their deposits, they might actually get something. Better just tax deposits processed by CR banks at like 1%, than try to figure out gross income or tax deposits made outside Costa Rica.

Since they can only see our payroll expenses, they owe us 2% on our losses. Great, when can we collect?

 

[SVT_Cobra]

point was a shop like CRIS dealing in volume their hold % less than most, and Cigar aint gonna wanna have to lose another 2% on the earn, least the way I see it

But hey it is Costa Rica so chances are this change wouldnt really come about for years, cause the Ticos only do one thing fast, run when its free food...LMAO

Where do they hook the black box? I won't give them any ideas but they have no shot.

 

[NES]

Problem arises for the Credit shops, cause by law those are Illegal in Costa Rica........

But then again the Ticos are only in a hurry to the buffet line so ya got plenty of time

I thought the credit shops(call centers) were legal and the post ups(money launderers) were illegal. When did this change?

 

[Tortillera]

Credit has been a NO NO from day one down there, although mostly ignored by the books.............

Anyone catch todays article in La Nacion..WOW^<<^

 

[BronxCheer+]

Credit has been a NO NO from day one down there, although mostly ignored by the books.............

Anyone catch todays article in La Nacion..WOW^<<^

nope, what is it?

 

[RaoulDuke]

Credit has been a NO NO from day one down there, although mostly ignored by the books.............

Anyone catch todays article in La Nacion..WOW^<<^

I just looked thru la nacion no article?

 

[fmc1]

Credit has been a NO NO from day one down there, although mostly ignored by the books.............

Anyone catch todays article in La Nacion..WOW^<<^

What page Dude?
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The kid on page 4A has some cool cell phone wallpaper and you have wonder woman on page 10. Other than that nothing of interest to me.