After a month-long referendum, the president of Peru, Pedro Castillo, has legally legalised sports betting and internet gambling.
The measure was approved by 91 votes in Peru's Congress last month. There were no contrary votes cast.
The bill was subsequently signed and published in El Peruano, Peru's official newspaper, last week.
It will take effect 60 days after its publication in El Peruano.
The statute designates the Peruvian Ministry of Foreign Trade and Tourism as the country's official gaming regulator. Mincetur will have the authority to monitor all gambling operations in the nation, including banning URLs and IP addresses that violate the legislation and assuring the functionality of any software and hardware used to offer online gaming.
The monthly tax rate has been set at 12% of the overall tax base. Total tax base is comprised of net income less maintenance expenses. The levy will be controlled by Sunat, the customs and revenue agency of Peru.
Maintenance tax will include 2% of the monthly income of an operator.
The maximum fine for breaking the legislation is SOL200 (£42.79/€50.47/$51.24). Other punishments include a ten-year or permanent licence suspension and the freezing of assets.
By fLEXI tEAM