Te Special Excise Tax on Production and Services (IEPS) tax is down significantly. From January to June 2020, the Ministry of Finance and Public Credit (SHCP) hoped to collect $1,496m via the IEPS collection for games and draws. Due to lockdown, the government only received $949.1m - $547.1m pesos less than what the government had expected to receive before the pandemic began in Mexico.
Te government is, as a result, losing out on tax revenue. Te Special Excise Tax on Production and Services (IEPS) is down significantly. From January to June 2020, the Ministry of Finance and Public Credit (SHCP) hoped to collect $1,496m via the IEPS collection for games and draws. Due to lockdown, the government only received $949.1m in taxes, $547.1m pesos less than what it had expected to receive before the pandemic began in Mexico.
CASINOS IN MEXICO
Background Te Betting and Raffles Law of 1947 banned casinos and gaming throughout Mexico. In 2005, President Vicente Fox tried to overturn the act, but managed only to insert an amendment in
the form of an appendix to the old law. However, the changes to the law were highly significant as they allowed for sports betting, as well as the opening of bingo halls and slot parlours nationwide. Te Secretary of Government (SEGOB), Mexico’s interior ministry, was given responsibility for the granting of licences for these betting facilities. Te decision was upheld by the Mexican Supreme Court in 2007.
For some years, attempts have been made to repeal the old act completely. Lawmakers also have been keen to put an end to Mexico’s so- called ‘umbrella licences,’ whereby gaming operators have been able to operate a number of slot parlours and sports betting shops under a single licence.
Tere have also been allegations of corruption for years when it comes to the granting of licences. In 2005, just days before leaving office at SEGOB, Interior Minister Santiago Creel granted permission to Televisa, the largest Mexican mass multimedia company in Latin America and in the Spanish-speaking world to open 65 gambling houses in Mexico. Te move came after President Vicente Fox granted the Santiago Creel the power to grant licences. Before leaving office in 2005, Mr. Creel had granted 763 licences to gaming parlours all over the country.
Te push for new gaming legislation has been motivated by a desire to improve the tourism industry, concern over the fast expansion of gaming nationwide, and controversy gathering around SEGOB’s issuing of licences. Also leading to renewed calls for urgent reform was Te Casino Royale tragedy. In 2011, a group of armed men attacked and then set fire to a licenced
NEWSWIRE / INTERACTIVE / MARKET DATA P55
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