The new rules in Peru have tripled the cost of gaming licenses, to Sol2.97m (808,000/ PS652,000/ EUR753,000).
The new gambling rules in Peru were approved last night (25th May) by the Central Bank, Ministry of Finance and Financial Intelligence Unit, as well as the Congress of Peru.
The Law No. 31557, as amended, imposes a 12% point of consumption tax. The amended Law No. 31557 establishes the 12% consumption tax. The Peruvian Sports Betting Association (APADELA ) criticised the previous law because it effectively exempted foreign operators from gaming tariffs by taxing only Net Win.
Retail licences are ending
A retail licence was also abolished by the new law. The new regulations will require that points of sales pay a warranty amounting to Sol24.750 to be able to offer gaming services.
The new Know Your Customer rules will be implemented. The players will have to register in order to bet, unlike the current status quo when many bet anonymously.
Non-compliance can result in fines and up to four years imprisonment for those who are culpable. A licence may also be suspended or cancelled.
Platforms can now offer Peruvian URLs for games of chance (bet.pe/.bet/.com.pe/.pe).
After 120 days, new regulations will come into effect once the technical regulations are approved.
Public Consultation on Peru Gaming Law
A public consultation was held to gather the opinions of various interested parties on the best way to regulate the gambling industry.
The Ministry of Foreign Trade and Tourism published the results of consultation on 19 May. The consultation, which lasted from 11 November until 2 December, collected 772 submissions from both public and private stakeholders.
The list includes the Ministry of Justice and Human Rights and the Financial Intelligence Unit of the country, as well as igaming and sport betting operators, suppliers, and individuals.
Law No. 31,557
The first Law No. 31,557 was signed by the Peruvian President Pedro Castillo in August 2022. The gambling industry in Peru is regulated by Law No. 31,557.
The law, among other things, placed the gaming industry under the supervision and control of Mincetur. It also established rules for the suppliers who operate on the market, as well as directions about where the money collected through gaming tax should be directed.