The new gaming taxes are part of a much larger Accountability Law which was put forward by the Executive branch and aims to put into practice regulations regarding fiscal transparency and accountability laws. The government needs to balance the federal budget and raise around US$200m in order to meet its current obligations to retirees, the armed forces, schools as well as raise additional money for other state intuitions such as hospitals. As well as increasing gaming taxes the new law also raises fees on imports.
In a heated debate senator from the Partido Colorado
The new law will add an additional tax on individuals obtaining prizes from games offered by Banco de Quinielas and other games. Banco de Quinielas is licensed by the government and is a private company that administers Uruguay’s lotteries under the control of the government agency, The National Directorate of Lotteries and Quinielas. The tax on prizes related to gaming is aimed at raising $500m (around US$17.3m).
According to the latest statistics released by the board Lottery and
Source: GMB / G3 Newswire