A set of guidelines to improve the retail betting and lottery regulatory framework in the Dominican Republic has been proposed by the country’s National Federation of Lottery Betting Shops (Fenabanca).
The proposals have been put to review by the government as part of the country’s National Regularisation Plan under Executive Decree 197-26, triggered to revive the licensing process for lottery betting shops, sports betting companies, and gambling operators, after a large number of license applications were put on hold as the review deadlines expired during the last assessment round in 2022.
Under the scope of the proposed legislation is placing the General Directorate of Internal Taxes (DGII) in charge of overseeing the provisional tax obligations of licensed operators.
A proposal is also included to restructure the Advisory Council that would be in charge of monitoring the rollout of the draft plan. This includes the addition of officials from the Ministry of Finance and Economy, DGII, the National Lottery, and representatives of Fenabanca, among others, to the Council.
Fenanbanca is also looking to secure its spot on the Board of the upcoming new regulator, the General Directorate of Games of Chance, which will take over the licensing approval duties.
All of the above aims to set the foundations for a more streamlined licensing process that secures access to the Dominican Republic while strengthening the legal compliance of the companies already there. Measures against anticompetitive practices are also included.
Commenting on the push for the proposals’ adoption, Fenabanca added: “We understand that each of these proposals seeks to strengthen legal certainty, guarantee free enterprise, and preserve the acquired rights of the men and women who make up this sector.”
This article first appeared on SBC Noticias. To read it in its original version, please click here.