www.CostaRicaTicas.com

Yep....here we go again. Laura has submitted a bill to tax casinos and online operations. www.amcostarica.com has a page 1 article today. First she wants to close down all the casinos AND "houses of prostitution",and now she decided that they are profitable for the Government. Basically I think it's a good idea to tax them,BUT I fear the money will be put into the hands of Polititions instead of where it is needed to help those people who need it.

The part of the bill that makes no sense is to base the taxes on the GROSS amount money which is wagered, known as the "drop" instead of what is known in the gambling business as the "Hold". The "hold" is how much profit they actually make.

Yes, this is going to drive business out of the country. And, while they may not be getting direct tax revenue from it as it stands today, they're getting indirect tax revenue via employee income tax and sales tax paid by employees when they spend their money.

Many businesses are already talking about moving to Panama. I have heard 3 already have plans to go after the Superbowl.

What's worse, is they're planning a 2% tax on gross revenue, but many books only have 2% hold, so effectively they want to take all their profit.

That is similar to the B&O taxes in the US where they tax top line revenue.....The states that do that eventually lose many business to other states that dont have it. It is known as the tax that shoots yourself in the foot. Its fitting that they would try to kill the golden goose...no casinos and you lose alot of employees and payroll tax etc.\


Casinos will move if they implement them. The old horseshoe had tax problems before this what now after a top line tax?

The physical casinos are a drop in the bucket compared to the 1,000s of online jobs that just move to another country.


Bktuna
I am never going home

Been here ten years, and you said it perfectly. Shoot yourself in the foot. The village idiot will do something right sometimes, just by the law of averages. I don't believe I have ever witnessed one example of common sense, especially regarding legislation, in all my time. I really shake my head all the time and just wonder what the hell is wrong with these folks.

The foolishness of some is as timeless as man; About 2,600 years ago Aesop wrote about the Laura mentality in his now infamous fable “The Goose That Laid the Golden Eggs.”

The stupidity of the new traffic law and the new property tax law will do a great deal to drive away entrepreneurs and investment. The Baby Boom Generation is just starting to retire and deciding where to invest their retirement funds.

Will it be Costa Rica?

There is a big difference between a bill submitted and a bill enacted, especially here. Wake me when this new 'law' starts being enforced.

_________________
"The only normal people are those you don't know very well." Joe Ancis

They just assessed my properties and gave me a preliminary tax bill which says get ready to pay after January 1, 2010.