Economy Minister Martín Guzmán said: “This is a key step in our journey: a nation that grows and that provides jobs and certainties. Our economy’s recovery with macroeconomic stability is our horizon and the budget, our tool; and the key element in our strategy.”
“The recovery of the activities with macroeconomic stability is on the horizon. The budget is the tool and pillar of our strategy,” Guzmán added.
Online gaming is expected to generate US$2.4 billion in revenue each year in Argentina. The new proposals will see 95% of the tax go to the country’s provinces, and the remaining 5% will be used to finance the government-owned telecommunications company Arsat’s plans.
The government will have the right to check bank and billing data to keep track of online betting behaviour.
There’s also a 10% rise for the companies that operate in low-taxation countries.
The country’s jurisdictions are working to establish their own regulations. Some drafted short-term proposals while others allow provisional operations. Buenos Aires prepared final regulations for online gambling that was approved in September.
The Argentinian State Lottery Association (ALEA) said it had concerns over the move. “Any tax on official gambling at a national level favours the expansion of illegal gambling, by increasing the tax pressure on the regulated sector. This directly affects the local economies since it reduces the income that the provinces and the City of Buenos Aires obtain from gambling through regulatory entities, in their respective jurisdictions. It also decreases the funds allocated to social entities,” it claimed.
Source: GMB
