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Following this, Mincetur held meetings with professional from the public and private sector, as well as unions and technology providers. The ministry also warned that failure to apply for a licence could result in criminal prosecution. The regulations will go into effect on 9 February 2024. The initial law 31557 was approved in late 2022 by the previous government while a new amending law 31806 was introduced and approved by Congress in July of 2023. The countrys gaming law is set to enter effect 120 days from the issuing of the regulations. This gives businesses from 10 February to to apply. Perus Ministry of Foreign Trade and Tourism (Mincetur) has approved the countrys sports betting and igaming regulations. The road to regulation: Perus gaming law, in August 2022, Perus president, Pedro Castillo, signed Law No 31,557 into effect, which sought to regulate the countrys gambling industry. Minister of Foreign Trade and Tourism, Juan Carlos Mathews said: The rule will allow the Peruvian State to collect close to S/162 million (US42 million) annually, to be invested in the reactivation of tourism, tourist infrastructure works, promoting sports and attending to mental health programs. Ministry warns of steep fines for non-compliance. The new tax laws will come into force 120 days from publication on February 9th, 2024. The regulations will allow the Peruvian State to collect close to S/162m annually, to be invested in the reactivation of tourism, tourist infrastructure works, promoting sports and attending to mental health programmes, he added. Perus Ministry of Foreign Trade and. Tourism mincetur ) has approved rules that will regulate sports betting and iGaming allowing the government to impose taxes on all online gambling businesses that operate in the local market. Online gambling and sports betting generates around one billion dollars per year in Peru, without paying the Special Gaming Tax (12 as land based casinos and slots operations have done for 20 years. The Ministry of Foreign Trade and Tourism mincetur, for its Spanish acronym) has unveiled the regulations of Law. 31557, modified by Law. Peru approves gambling regulations - Legal compliance - iGB Peru Executive Government regulates online gambling and
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