Argentina raises Gambling tax - page 10.

Gozie51

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Quote from: kkaroul4 on November 23, 2020, 08:48:35 AM

It's good for them if they will become regulated casino I think many people will be interested to regulated casino rather than to those who are not isn't? Also it's for the good of their country that the tax will be used in the development of the rural areas or provinces.

This is right that Argentina has taken this step. They are third world country and needs revenue to grow the economy. Taxing is revenue generation and whether it is through casino is fine. Casino business is growing globally.

akirasendo17

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The government has to find a way to help the people of his country, for the vaccine, assistance to the people, and where can they get those big amount, from companies taxes, the government need those, especially from the casino which we know has big contribution when it comes to taxes, during this time the best thing that a company can do is to help by giving taxes since they are going to get profit once the pandemic is clear and open its door to the public

Kupid002

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It's good move for them instead of doing it illegal they make a move to collect more taxes that can help to improve their economy.
If they know casino gambling earn that much it is right to ask more taxes for them or else they need to close it , if the gambling sites know they earn a lot it is also not a problem for them to give more taxes to government it's a give and take for company and government.

kkaroul4

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It's good for them if they will become regulated casino I think many people will be interested to regulated casino rather than to those who are not isn't? Also it's for the good of their country that the tax will be used in the development of the rural areas or provinces.

freedomgo

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Good for them, actually it's not a big deal for operators as long as they have the license and customers to gamble as they are making a lot of money from gambling, 5% tax is even small for a profitable industry. With a good gambling regulation, this will drive an increase of operators and it would result to increase of tax revenue.

2.4 billion dollars could really help the economy and as long as it will not affect people's lifestyle negatively.

I wish other countries considers gambling as a good revenue source, and not only that, crypto should also be tackled as it would also help to improve the economy since crypto only needs regulation to be easily adopted.

Viscore

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The growing numbers of gambling institutions caught the attention of the leaders and interest comes next.

The current changes tell something that the government is milking now to all gambling institutions. I'm not sure if that going to be agreed upon by both parties from gambling owners and the government coz this 5% increase is a big effect on their profit and much more in troubles for small-scale casinos.

ecnalubma

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Apparently increased in tax these may have positive and negative impact. But we can't countries implementing it because struggling economies due to the COVID-19 crisis. We can all relate to this, small businesses might suffer to these tax hike and not only single industries. But the government should maintain balance in collecting taxes or become reasonable at least.

safari88

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for big companies that offers betting services i don't think there would be a problem but just like what you have said small business operators maybe in trouble. also i think it's good way to have extra fund to allocate to the province in order to help them to improve or grow i'm not really sure what could be the real cons and pros of this implementation.

fiulpro

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https://www.gamblinginsider.com/news/10471/argentina-raises-online-gambling-tax-to-5

Apparently Argentina just raised their gambling tax to 5%.

Quote

The Argentine Chamber of Deputies has passed a law that will increase the online gambling tax rate from 2% to 5% in 2021. The new law was added to the National budget proposed by Economy Minister Martín Guzmán. The tax will apply to any online betting transaction. There’s also a 10% rise for the companies that operate in low-taxation countries.

Apparently the industry was unregulated for a long time and the government now decided to go for it since they will aid in the future stability and improvement in the financial situation.

The industry according to them apparently is able to get 2.4 billion dollars worth of revenue and which is inclined to help the country , 95% of the tax is going to go to the province.

What are your thoughts on this ??

Is this good/bad , how would we be able to cope up with the governmental bodies increasing the gambling tax thus shutting down the small business causing problems for the long run.

- it was a little sudden to increase it to almost double. The government never even helped the industry for the sake of the argument.

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