Mexico’s gambling industry looks set to be hit with an additional 20 percent tax on gross gaming revenue as a fiscal reform bill is approved by one house of Mexican Congress. Observers are now asking how the law will be applied in practice.
The 20 percent tax on gambling operations is part of a broader programme of fiscal reform proposed by President Felipe Calderon’s government. Although still to be ratified in the Mexican Senate, the ‘Impuesto Especial Sobre Producción y Servicios’ moved one step further towards coming into effect when it was voted on, and approved, last week by the Chamber of Deputies, Congress’s lower house.
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