Chilean Tax Authority Registers 25 Online Betting Platforms for VAT Payment
Chile's Internal Revenue Service (SII) has officially announced that 25 online betting platforms have registered to begin paying digital Value Added Tax (IVA) in the country. This development follows the issuance of Resolution N° 94. In contrast to those that have complied, there are 10 companies that have not yet registered. For these non-compliant entities, the SII will automatically withhold 19% of every transaction. This withholding will be executed through payment processing operators.
The Chilean government's move to enforce VAT collection on online betting platforms reflects a broader global trend of digital service taxation. By requiring registration and implementing automatic withholding for non-compliant entities, Chilean authorities are aiming to capture revenue from a sector that has historically operated with less fiscal oversight. This policy shift could influence market dynamics, potentially increasing operating costs for betting companies and impacting consumer prices. The effectiveness of this measure will depend on robust enforcement and the ability to track cross-border transactions, especially as the digital economy continues to evolve.
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