Argentina raises Gambling tax - page 4.

plvbob0070

copper member

Activity: 658

Merit: 402

Quote from: XZERO1 on November 26, 2020, 06:33:21 AM

Quote from: fiulpro on November 23, 2020, 08:40:55 AM

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.

What are your thoughts on this ??

To me it looks like because of the pandemic and the fact that people now mostly gamble online they are losing most of their usual tax revenue and that's the reason for the sudden increase and it was not a small increase either and it was more than doubled, I would say there's no problem if it was just a temporary rule till the pandemic is over and everything back to normal but since I know it's not I'd say that's not very good specially if the gambler has to pay all that 5%+house edge which looks like is the case here.

The pandemic really caused huge damage to the economy and they are probably trying to recover and by increasing the tax for online casinos. I don't think there's a chance that this law will be just temporary. Gamblers may complain about it but once it's already implemented, they have no choice but to accept it, unless they will stop gambling if they don't want to pay 5% tax. But I doubt that gamblers would stop gambling just because of a tax increase.

TitanGEL

sr. member

Activity: 1036

Merit: 281

If you are one of the compulsive gamblers then it doesn't matter even though the gambling taxes are continuing to go up because for sure that you will continue playing gambling. In my country the lottery has tax of 20% which means that if you win $1,000,000; the $200,0000 will go to the government. Imagine adding 5% in tax is too big and it can affect a lot of gambling decisions. I do not know if the government of the Argentina did a right thing but for sure there will be effect on it wherein, they can have more money to use in order to rebuild their economy and to fully recovered because of the current pandemic.

XZERO1

member

Activity: 504

Merit: 33

Quote from: fiulpro on November 23, 2020, 08:40:55 AM

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.

What are your thoughts on this ??

To me it looks like because of the pandemic and the fact that people now mostly gamble online they are losing most of their usual tax revenue and that's the reason for the sudden increase and it was not a small increase either and it was more than doubled, I would say there's no problem if it was just a temporary rule till the pandemic is over and everything back to normal but since I know it's not I'd say that's not very good specially if the gambler has to pay all that 5%+house edge which looks like is the case here.

matchi2011

sr. member

Activity: 1456

Merit: 267

Buy $BGL before it's too late!

Quote from: hulla on November 26, 2020, 02:59:30 AM

Quote from: proTECH77 on November 26, 2020, 12:47:40 AM

It will make many gambler not to have interest in gambling as usual in the country because of the tax the government has impose to all online gambler who just recover from pandemic, that really make things hard in the country.

Online gambler recover from pandemic how? The last time i checked physical gamblers and online gamblers spent more time gambling online and the pandemic doesn't by any chance stop them from playing every single day though i understand the tax will somehow affect some online player the country in the subject badly need some fund to save the country economy and the increased in tax fee will only hurt the gamblers but won't stop their interest in an online game of chance.

Not sure what he means about recovering due pandemic, online gambling did not stop even the pandemic is widely active,
gamblers still find time to continue playing and betting.

Taxes are the blood life of the country with how the pandemic affects the entire country government needs to find sources
where they can collect more and use to rebuild the economy.

ethereumhunter

hero member

Activity: 2856

Merit: 541

Leading Crypto Sports Betting & Casino Platform

Quote from: judeafante on November 25, 2020, 11:55:56 PM

Quote from: fiulpro on November 23, 2020, 08:40:55 AM

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

Obviously, because of the pandemic, every government need money now, os instead of selling some of their assets or making a loan the taxes is one of their best way to get more funds into the coffer to sustain their needs, all counties are facing a dilemma on how to address various needs of their people in this pandemic, because it depletes a country's coffer.

Even if that is just for small money, that can make people feel not good because they really need money in this pandemic while many of them are lost their job before. I hope that the government can think about other ways that will give more load to their people. Giving them a loan will not be a good solution because they need to think about what business they need to make and how they can make money. But maybe that can work for some people who want to try, but if they can not pay the loan, I think the government can give relief to them, so they don't feel it is hard.

hulla

hero member

Activity: 1820

Merit: 566

Quote from: proTECH77 on November 26, 2020, 12:47:40 AM

It will make many gambler not to have interest in gambling as usual in the country because of the tax the government has impose to all online gambler who just recover from pandemic, that really make things hard in the country.

Online gambler recover from pandemic how? The last time i checked physical gamblers and online gamblers spent more time gambling online and the pandemic doesn't by any chance stop them from playing every single day though i understand the tax will somehow affect some online player the country in the subject badly need some fund to save the country economy and the increased in tax fee will only hurt the gamblers but won't stop their interest in an online game of chance.

AicecreaME

sr. member

Activity: 2324

Merit: 454

Quote from: proTECH77 on November 26, 2020, 12:47:40 AM

It will make many gambler not to have interest in gambling as usual in the country because of the tax the government has impose to all online gambler who just recover from pandemic, that really make things hard in the country. Many gambler find it difficult to gamble, to their satisfaction just because they don't have much money to gamble, for them to make more money from the gambling center. Many Argentina gambler will now reduce their gambling habit in the country because of the high fees the government has imposed to them in the country.
I think it will not work this year 2020, because the year just remain few weeks to end the year 2020 which the government will want the tax to start working from first week of next year to allow more gambler to save more money from their gambling.

Then that's a good thing to sort out this people who can't even afford to have a decent meal every single day and yet they are playing gambling that cause poverty to soar more. The only ones that will remains are those elite people who have plenty of money that can afford the tax, because those people gives so much benefits on a casino that helps the Government by the taxes they'll get on those casinos. It's a win-win situation for the Government hitting two birds in one stone.

Because imagine, in this time of pandemic, normal people shouldn't play gambling because they must prioritize their needs instead of giving themselves much more problem aside from pandemic itself.

imstillthebest

full member

Activity: 1638

Merit: 122

Quote from: proTECH77 on November 26, 2020, 12:47:40 AM

It will make many gambler not to have interest in gambling as usual in the country because of the tax the government has impose to all online gambler who just recover from pandemic, that really make things hard in the country. Many gambler find it difficult to gamble, to their satisfaction just because they don't have much money to gamble, for them to make more money from the gambling center. more money from their gambling.

only if the gambler has already recovered from the pandemic but what if not yet ? people like them that have problems are usually finding thier comfort in gambling but if they knew these news about increased taxed , what are they going to do now ? the government ask for thier peoplr to help the broken economy but didnt they know that people are also broken ? but im against to those who gamble for money or they treat gambling as a job and not as a game , those rule can be helpful for them to discourage to gamble

proTECH77

member

Activity: 1120

Merit: 30

Bisq Market Day - March 20th 2023

It will make many gambler not to have interest in gambling as usual in the country because of the tax the government has impose to all online gambler who just recover from pandemic, that really make things hard in the country. Many gambler find it difficult to gamble, to their satisfaction just because they don't have much money to gamble, for them to make more money from the gambling center. Many Argentina gambler will now reduce their gambling habit in the country because of the high fees the government has imposed to them in the country.
I think it will not work this year 2020, because the year just remain few weeks to end the year 2020 which the government will want the tax to start working from first week of next year to allow more gambler to save more money from their gambling.

peter0425

sr. member

Activity: 2618

Merit: 439

Quote from: bryant.coleman on November 26, 2020, 12:01:12 AM

Quote from: robelneo on November 25, 2020, 10:29:34 PM

If we are not in a pandemic and Argentina's economy is doing great, and they increase online gambling tax by that percentage we can call that unfair, and not right. But Argentina is one of the worst-hit by the pandemic, and they need all the money they can get to sustain the economy and give help to heir people, and online gambling is one of the industries that can help, so we should look at gambling sites coming to the rescue of their economy.
Maybe after this pandemic is over they can reduce the tax again when everything is back to normal.

No one is having any doubt regarding the precarious pandemic situation in Argentina (or for that matter any other country). But the question is whether this was the right approach or not. The casinos are also not doing that great. At this point, if they increase the taxes, then it can destroy them. And if there are no casinos, then instead of an increased tax, the government will be receiving zero taxes.

Actually this is not about How is casino doing now but what is casino having before the pandemic,They bag too much income with small tax on their heads so i think it is not that much if the government will at least ask for another small adjustment and consider this tax as Helping hands for the victim of pandemic.
Remember in normal days when the virus is gone,they can easily recover on the situation but those victims?they will take years before having another new life.

bryant.coleman

legendary

Activity: 3654

Merit: 1217

Quote from: robelneo on November 25, 2020, 10:29:34 PM

If we are not in a pandemic and Argentina's economy is doing great, and they increase online gambling tax by that percentage we can call that unfair, and not right. But Argentina is one of the worst-hit by the pandemic, and they need all the money they can get to sustain the economy and give help to heir people, and online gambling is one of the industries that can help, so we should look at gambling sites coming to the rescue of their economy.
Maybe after this pandemic is over they can reduce the tax again when everything is back to normal.

No one is having any doubt regarding the precarious pandemic situation in Argentina (or for that matter any other country). But the question is whether this was the right approach or not. The casinos are also not doing that great. At this point, if they increase the taxes, then it can destroy them. And if there are no casinos, then instead of an increased tax, the government will be receiving zero taxes.

judeafante

sr. member

Activity: 2254

Merit: 258

Quote from: fiulpro on November 23, 2020, 08:40:55 AM

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

Obviously, because of the pandemic, every government need money now, os instead of selling some of their assets or making a loan the taxes is one of their best way to get more funds into the coffer to sustain their needs, all counties are facing a dilemma on how to address various needs of their people in this pandemic, because it depletes a country's coffer.

Salauddin1994

member

Activity: 868

Merit: 15

One of the most attractive areas in argentina for gambling operators but now online gambling is severely restricted in the country and some time ago and in general was banned illegal casinos online can play on foreign websites although it is considered illegal. Despite the ban many online companies continue to accept players giving them the opportunity to play cricketers argentina has increased its gambling tax because it is legally recognized the government's economy has been hit hard by the epidemic. The trend of online gambling has increased a lot in the epidemic that is why the government is trying to improve the economy by legalizing gambling and levying taxes.

robelneo

legendary

Activity: 3192

Merit: 1198

Bons.io Telegram Casino

Quote from: Sebas.tian on November 25, 2020, 10:34:46 AM

As a third world country Argentina is facing something usual since the advent of the corona-virus pandemic, they are among the worst hit by this virus and their economy has been devastated, what do you want them do to raise their revenue generation?. If this will on the interest of the citizens, then, so be it and everyone should accept this action from the government in good fate.

If we are not in a pandemic and Argentina's economy is doing great, and they increase online gambling tax by that percentage we can call that unfair, and not right. But Argentina is one of the worst-hit by the pandemic, and they need all the money they can get to sustain the economy and give help to heir people, and online gambling is one of the industries that can help, so we should look at gambling sites coming to the rescue of their economy.
Maybe after this pandemic is over they can reduce the tax again when everything is back to normal.

pankowri

member

Activity: 728

Merit: 63

$CYBERCASH METAVERSE

Nowadays People are getting encouraged for gambling in many ways. Getting more traffic than the previous year, so the government wants to use this sector as the economy is struggling due to pandemic issues. For raising gambling taxes, there have positive and negative sides. But we can think of it as positive aspects that the government will work for the people and the revenue will be distributed to people's lives.

suzanne5223

hero member

Activity: 2590

Merit: 650

Want top-notch marketing for your project, Hire me

I know this decision will affect the gamblers that use Argentina gambling site or from there but the Argentine need the fund since the country economy was said to be going from bad to worse and the best way for to fix the issue is to increase the tax of the successful company or individual.

Hippocrypto

sr. member

Activity: 1484

Merit: 277

Quote from: DabsPoorVersion on November 25, 2020, 05:54:11 PM

It is good for them if it will be regulated,

But I am worried about the small companies/platforms, unlike big companies who have enough gamblers. But all in all, this will be good for the sake of the country and their plans to improve the financial situation since the whole world is having a hard time aiding this problem.

This plan of their government won't put their people into big problems with respect to taxations, because it became as an alternative for them to fast economic recovery. With tax implementation on gambling they're also sighting over the small gambling operators with definite bracket depending on their taxable income. So nothing to worry all about, things will be saturated since it was just starting over.

qwertyup23

hero member

Activity: 2212

Merit: 786

Interesting that they focused the increase on online-betting platforms.

Maybe the impact of COVID-19 has shifted (more like compelled) most gamblers in the online platform, that is why the Government wants to take advantage on the increase of tax. Though additional tax may be additional expenses for the user, this would rather, serve as additional revenue for the Government that can be allocated to their priorities.

Quote from: DabsPoorVersion on November 25, 2020, 05:54:11 PM

It is good for them if it will be regulated,

But I am worried about the small companies/platforms, unlike big companies who have enough gamblers. But all in all, this will be good for the sake of the country and their plans to improve the financial situation since the whole world is having a hard time aiding this problem.

I think that before the implementation of the tax increase, the Government considered the impact on the small/companies and platforms. Maybe the positive impact it brings as a whole outweigh the negative impact on the small-scale industries on the long run.

Ryker1

sr. member

Activity: 1918

Merit: 442

Eloncoin.org - Mars, here we come!

Well, the Argentinian government has their reasons for increasing the gambling tax and one of these could be the economic recession they experienced due to the pandemic and in order to recover, -- they consider to do it in gambling instead of increasing the tax on the basic necessities of the citizens which could lead to a higher price in the commodities. However, an increase in gambling tax will cause a lot of consequences it could lead to illegal gambling where small-time casinos would continue to operate illegally or without a license, and gambling activity can become more accessible to everyone including the minors since no law nor regulations shall need to abide if they operate outlawed.

DabsPoorVersion

sr. member

Activity: 1190

Merit: 315

#SWGT PRE-SALE IS LIVE

It is good for them if it will be regulated,

But I am worried about the small companies/platforms, unlike big companies who have enough gamblers. But all in all, this will be good for the sake of the country and their plans to improve the financial situation since the whole world is having a hard time aiding this problem.

Topic: Argentina raises Gambling tax - page 4. (Read 2828 times)